HeavyHeart, EmptyPurse

JAMIEDODGER

welcome jennifer and to pete too in denmark!!

i got up this morning and read this thread with horror. how awful for the both of you. please talk to pete when he comes home about selling up and renting, therefore releasing the equity in your home and paying off your debts, at least then you will have a roof over your head and no debt and another property that you own which you will be able to sell, when petes parents die.

another thing that astounded me was yet again the love, support and advice given yet again by the community here on debtfreewannabe, you are an amazing bunch, you should all be so proud of yourselves!!!!!!

jennifer, please keep posting, there is no where better to get hugs, virtual cake and love than here on DFW......and when pete comes home you can post together.

i really dont have anything significant to add to make a difference to your plight hun but i would really suggest biting the bullet and on a day that you feel a bit stronger, that you post an SOA. afterall, a number floating around in your head can be scary, when youve written it down in black and white it is just that, a number. then you can take action. hope to see much more of you here hun xxx

lynzpower

Heavy Hearted, under your rather extreme circumstances, I hope that these guys might be able to help x http://lawworks.org.uk/

lynzpower

http://lawworks.org.uk/?id=system_works

They say they wont do family work. However, this may come into conveyancing or property law instead. It might be a long shot, but I hope that they will look over your case, if they cant help you, they may be able to redirect you to someone who can

Hugs this morning, I woke up and thought of you and thought.. there has to be something I can do

Heres a nice cup of tea for you:coffee:

sleepless_saver

lynzpower wrote:

Sleepless saver, if the house was sold with a sitting tenant, surely there would need to be some sort of tenancy agreement in place, ie the parents in law paying some sort of rent. I cant see who would take on this investment with paents in law not paying anything

Dead end there unless the parents choose to cough up?

I know it's off the wall but what made me think of it (as well as the ad I'd seen) is that in France elderly people can sell their houses at reduced rates while retaining a lifetime right to live there - a kind of private equity release scheme. The buyer pays less - maybe around half or two thirds) of the going market rate and tops it up with a monthly payment to the residents. No rent is paid. What's in it for the buyer is that when the residents die the buyer has got a property at well below what it would have cost otherwise. So if you have a lump sum to invest and want property to be part of your pension provision it kind of makes sense.

The whole situations is so unusual that it seems like a good idea to try to identify all the possible options.

But I agree with all the other posters - main thing is to get good legal advice.

lynzpower

Absolutely, thats a good point Sleepless saver. Although I doubt equity release is going to work for those who are still paying the mortgage and are not "in retirement" type thing.

MAybe this could be question on the mortgaages board in time?

FrugalJo

Dear Jen
Your posts come across as very calm and sedate, yet inside you are obviously scared to the core. I am disgusted but not surprised at what these bullies (is it all MIL doing do you think ?) are doing to you. However they are bullies as the rest of the family have been bullied into siding with them. They are eating away at everything you have, financially and mentally. I honestly think you and Pete can get through this together.
If you were to sell your house, pay off your debts and rent, think of the mental strength you would then have to take them on, get some legal advice, put a lodger in there perhaps ? Make some much needed alterations to the flat ?
Big big hugs to you Jen.
Jo

lynzpower

I personally think ( sorry Jen, hope you dont mind me talking about you as if you are not here lol) that the legal side should be explored fully before any action is taken

I think it would do you a lot of good, both financially and legally, to get a DMP or similar in place hold off the creditors, and continue paying the 2 mortgages if this is an option.

At the end of the day, if you go bankrupt, then both homes will be lost, but it may be that the contract STILL stipulates that you have to keep housing them.

The best thing to do in my opinion is try every which way you can to render the contract void. If you can do this, this is BY FAR the best option. You can then get through the eviction procedures and get them booted out. You will then have the property to live in/ sell whatever.

Right now, I would not consider any jiggery-pokery of shuffling. IM guessing there are a lot of options in your head trying to make sense on your own?
Go forward with CCCS and take some legal advice PRONTO!

xx

chivers1977

I have just read this post thread this morning and as everyone am horrified that families can turn like this. I work for a lender and am trying to think whether there is anyway that you can get out of the agreement. Does the lender know that his parents live in the property. when you take out a new mortgage you are supposed to tell them if there is anyone over the age of 17 residing in it and they will be asked to sign an occupancy form which will mean that if the lender has to take possession of the property for non-payment, the persons over 17 will have no right to reside. If this was done, I wonder whether this might have any bearing over the "contract" between yourselves and PIL. Might this override, depending on the dates of the agreements. It might be worth asking your lender's legal team as obviously the bank has an interest in the security of the property, ie their right to possess in the event of unpaid mortgage.

Also don't want to appear rude, but is there any way that you could claim that your disability/ illness left you incapable of making a coherent decision to agree to the lifetime tenancy. ie a temporary insanity type issue. Don't want you to feel that I am taking the mick, just trying to see another way out of the agreement with PIL.

Lady_E

Good morning Jen
I have just read all the way through your post and I cannot believe how shockingly you and Pete have been treated by his parents.I think you need to seek legal advice to confirm a)if the original advice given by your solicitor about judges rules was correct b)if there is any way of reneging on the agreement and reclaiming the property as your main residence. I am reading between the lines here , but my guess is ,MIL is behind all of this and sees you as a threat , as you have corrupted her son. I think her influence over the rest of the family comes from fear rather than respect, but forgive if I am speaking out of turn.
The most important thing to do now is to have a game plan -
1)Go to Doctors , get yourself sorted out
2)Get Petes health checked
3)Seek advice from CAB
4)Both of you discuss the situation and then go forward together and call a family meeting. Put the request in writing and hand deliver it , if they fail to appear , then turn up , and move in .

Big hugs and keep posting - you two are stronger than anything they can throw at you .

Keep posting

Lady E

Lucifer

Is it just me - or is any one else concerned that we haven't heard from HH for a while? If I was that desparate... I would watching this thread like a hawk - hoping for a breakthrough.

I hope you are ok HH, I send you lots of love and hugs. We look forward to hearing from you.