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Repo of house and bankruptcy
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whydidIbuyahousewithhim
Posts: 2 Newbie
Can anyone help. I foolishly bought a house in 2006 with an ex partner he lived in it with me for 10 months and left owing money and leaving me in debt, I tracked him down, and as the house had crashed and was in negative equity he agreed for me to give him £1000 as a gesture of goodwill but then he disappeared again, I now have no forwarding address for him. I cannot sell the house or do anything. At the moment as it is an interest only mortgage I can manage it when he left it was £702 pm and it was killing me but the crash came and now it is under £300 pm.
The only option open to me is to have the house repossessed but what will happen with the shortfall. How can he be liable when he has disappeared and can't be tracked down. I am thinking the only option after having it repossessed is to go bankrupt.
Has anybody had a similar situation, Solicitors can't help me as I had one when he first left.
I soooooooo regret setting eyes on him he has ruined my finances and I need to get rid of this house and put it all behind me but I don;t know what to do or what I can do.
PLEASE HELP ANYONE:mad::mad::mad::mad:
The only option open to me is to have the house repossessed but what will happen with the shortfall. How can he be liable when he has disappeared and can't be tracked down. I am thinking the only option after having it repossessed is to go bankrupt.
Has anybody had a similar situation, Solicitors can't help me as I had one when he first left.
I soooooooo regret setting eyes on him he has ruined my finances and I need to get rid of this house and put it all behind me but I don;t know what to do or what I can do.
PLEASE HELP ANYONE:mad::mad::mad::mad:
0
Comments
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Is the mortgage/ownership definitely in joint names? If so you are both jointly liable for whatever shortfall would be left after repo. If they can't contact him they will no doubt chase you so you would need to see what options you had once the shortfall was confirmed and you knew exactly how much debt you had in total.Total 'Failed Business' Debt £29,043
Que sera, sera.0
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