Ex is going bankrupt while my name still on mortgage

kegsmythe

Thankyou very much for your help, I will get onto my solicitor tomorrow. I dont want to go bankrupt so any other option would be great! And i shall come back to let you know how get on

FraudBuster

Does anyone know anything about quick cash for properties?

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debtinfo

Hi, it nay be that the OR may look at this unfavourably as he would be selling it at below market value. Why not put it on the market now even if his bankruptcy goes ahead the OR will usually still let you sell the property and split the proceeds. it doesnt look like there will be a shortfall if your figures are accurate. The only problem then is the mortgagee who will probably let you sell it even though you are not paying the mortgage if they are guaranteed to get there money from the sale

sizzler

Thanks debt info for your as allways brilliant input. I tried to guide in generall and expressesd advice was taken and to see a solicitor even.

sizzler:)

treading_carefully

There is £30k of equity in the property of which half is yours. Could you not switch mortgage to interest only while trying to sell. You could also look at renting house out which should cover the interst only payment. It seems crazy for you to walk away from a potential £15k or have I missed something here.??