Help-mortgage dumped on me!

SMEIGALS1

Hi this is my first post, hope it makes sense. Ex husband has walked away from mortgage on a very rural property we own jointly.He left in 2007 Jan and has not paid a penny since he left for anything, he took lump sum - which he has blown, and I got family home which (luckily) I sold just in time last year. Could't get financial order as part of divorce because ex refused to provide any details and destroyed all in a fit! Solicitor advised to just go ahead and get divorced asap. Credit ref x3 know am not connected to ex any more, have good credit rating and never been in mortg arrears. I have made all payments on both properites since he left. Have 1 child and am 24/7 Mum and Dad, ex no longer involved - his decision totally. Ex is a nomad and doesn't work. Do not have an address so can't sever tennancy as solicitor needs an address to serve. I work but no way can my income take over rural property. See below for figures. Have some capital from old family home but this is being rapidly decreased by rural mortg, tennants left autumn 2008 and I am now funding it to the tune of £1000pcm until we can get new tennant. I rent at present. Rural house is on market with good agent for £230k which is what mortg is, but house really worth £275 plus. Had lots of interest since 07 but all fallen at last hurdle, house sound, survey good etc. Now no one around to buy anyway and rent poor in area so have to add to it to make up mortg.
Other things...
Can't live there as too isolated for work/childcare - plus he still part owner!
Lodgers not an option as single mum and need family back up plus job
Evry month I pay is still benefiting him as he on mrtg too
He has no life ins so if he dies I get debt anyway
B.Society aren't interested as am not in arrears, haven't been and have capital
Holiday business has huge overheads, would't bring enough in
If I return it affects my credit rating and make difficult to rent for us, on credit rating, plus neg equity, plus I want a very! small home again one day but dare not buy with this huge debt hanging over me.
Have spoken to two solicitors who don't seem to know anymore than I do.
If go to court unlikely they would a)write off debt if I returned it and b)transfer it solely into my name
Ex will absolutely NOT pay anything, return calls etc etc. Have tried it all.
If I reduce it by another £30k still unlikely to sell at mo and I would owe that, as they won't find him where does that leave me/ Owing it all? Any ideas, by the wa auction guide £150k so would owe £80. Any suggesstions??? Thanks in advance.

maninthestreet

I'm not clear what your problem(s) is(are).
You sold the family home last year, so what mortgage are you referring to?

beecher

I don't get this either. You say you've sold, but then say you're renting . Maybe they're two different properties? If so why can't you use the money from the sale of your family home to pay off the mortgage?

Then you mention that there are two properties which are being paid for - do you mean this one and your rented accommodation, or is there another property? You say your husband took a lump sum, but that he's still on the mortgage. I'm not sure what practical help any of us can be - maybe take a trusted friend along with you to the solicitor to make sure they understand the story, and that you understand what options you hav.e

SMEIGALS1

Thanks for replying, the rural house is a second property we owned, the outstanding mortgage is on that one. The other home I sold was the marital home.

beecher

So is there maybe enough money from the sale of the marital home to make up the difference between what you can sell it for, and how much you owe the bank? That way you get to move on and not have the worry about having to be in contact with your ex.

SMEIGALS1

Appreciate that, so sorry if not clear. I rent at the moment using my income and capital from family home which was mine. Yes, I could take the hit on my capital and reduce rural house price to really saleable level. But - then if I do find ex he may refuse to sign papers to sell at that reduced price. He could do that. There will be no profit in it for him and he is under the impression he should get all back that we put in initially when we bought it. He is not rational. Is it better to hang onto it until house prices rise? It is an asset after all.

beecher

The best option seems to me to be to take the hit on your capital but if your husband is causing problems as he obviously is, then that's really the issue at hand. Whatever rational suggestions we give, there will always be the answer 'but he won't accept that'. Hopefully someone else can suggest where you can go from here. Best of luck

SMEIGALS1

What I really want to get to the bottom of is - have I missed anything in law? Does it mean when one person is left paying a joint mortgage and you can't remove the other persons name, or get them to pay towards it , you have no redress. Is it just tough?

beecher

SMEIGALS1 wrote: »

What I really want to get to the bottom of is - have I missed anything in law? Does it mean when one person is left paying a joint mortgage and you can't remove the other persons name, or get them to pay towards it , you have no redress. Is it just tough?

Haven't a clue - just bumping this to see if anyone else knows. Doesn't your solicitor have any advice on htis? Or have you phoned Citizens Advice? Or you could post here

http://www.wikivorce.com/divorce/Divorce-Forum/Property-and-Mortgages/

SMEIGALS1

Both solicitors I have spoken to don't seem to know either, or how or if the B.Society will help (same if I took it to court). Have listened to every bit on Moneybox live Radio 4 to see if similar comes up - but nothing has. Will ring C.Advice. Funny thing is, even the Law Society couldn't give me a solicitor who deals exclusively in complicated mortgage issues when one of the joint owners could possibly be classed as mentally ill. Trying to get that proved is going to be impossible though. I think it comes down to - hold onto it until it increases in value or lower price and pray!
By the way, does anyone know what happens if you try to sell a jointly owned property and the other owner can never be found? EEEK

alleycat`

Bit of googling suggest you can apply to a court for:-

"A transfer of property Order"

http://www.divorceaid.co.uk/financial/settlement.htm

In effect there appears to be some power for the court to potentially force the objector to accept a sale and even dictate what percentage they get.

A solicitor is your best bet as i am not a legal person.

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Richard