mortgage debt

tina_ryder

have recently split with my husband. i moved out of the family home with my two children into a rented property. my husband has not paid the mortgage for the last 2 months. i don't want the house to be repossessed as i will end up with nothing out of it. i can't afford to pay anything towards the mortgage as i am now on income support and housing benefit. is there anything i can do to prevent losing the house?

~Beanie~

Well if you can't afford to pay the mortgage and your ex can't/won't pay it then unfortunately it will eventually be repossessed. Can't you sell it yourself before it gets that far, is there any equity in the property?

wanttosave

welcome to mse . sorry to hear all that you are going though . but sounds like your ex is cutting off his nose .

Dan_1976

Hi OP

Sorry to hear what is happening, unless you or your ex pay the mortgage you will lose it. You can delay it but unless you pay up in the end it will be repo'd.

IN the mean time the CAB or national debtline may help but again, money talks!

Gorgeous_George

You should not have moved out.

You are now renting one house and are still responsible for the other.

GG

tina_ryder

thanx for your advice. there is about 25,000 equity in the property. not sure if i can sell it myself.

tina_ryder

thanx for the welcome wanttosave.. good to know there's people out there to advise as much as they can

Soot2006

tina_ryder wrote: »

thanx for your advice. there is about 25,000 equity in the property. not sure if i can sell it myself.

In that case you might be best selling it off sharpish, so that the debt doesn't have time to accumulate and the mortgage arrears don't come and kick your credit record into the dust. Even if you don't get anything back at the end of the sale process, you at least won't owe anything to anyone. Clean break & you and your children can start a new life.

Dan_1976

If you let go to repo you will lose most of that in charges and costs and probably a lower sale price, you could end up oweing money!