Repoession---mortgage shortfall query

TAF

Before i got married, my wife had a house on mortgage. Her brother was living in that house and paying the mortgage. We got married bought a house together on mortgage and living in it. Now my brother in law couldnt make payments and stuck his head up his a*se and the house was repossesed. Mortgage company got intouch with my mrs (they didnt know we were married or she had another mortgage) and asked for the 48k shortfall or to arrange payment plan. Now we negotiated a settlement of 16k to write off the mortgage and paid that in full before they found out about our house and things got more complicated.
My questions are,
1.how long will the repossession still be under her name??
2.any advice on how to build her credit rating back up??
3.are we able to re-mortgage on this house when our current deal ends??
4.and when would it be possible for us to consider moving to another address and possibly moving the mortgage or getting a new one to fund the move?

holly_hobby

You will find that most if not all mge applications will ask if any party has ever been subject to a repossession order (regardless of when it was) - if they do you know the answer, if the repo was a significant time ago with a wholly justified reason, and you have decent LTV, you may find a home (you'll need an active broker to assist with the search).

Hope this helps

H

TAF

Any one with advice regards re-mortgaging our current house with our situation??