Joint Mortgage Woes

JohnTee_3 · 26 February 2007 at 4:49AM

After divorce I agreed to let my Ex keep the house as part of a clean break financial settlement. I haven't lived in the house for 4 years. My ex is now in arrears and has not taken me off the mortgage. I really want to get on with my life now, how can I get off the mortgage?

Mr_helpful · 26 February 2007 at 9:24AM

John
Sorry to hear of your woes. Unfortunately a joint mortgages makes both party's liable for repayment in all circumstances. I am wwondering if you used a solicitor for your divorce. If so he needs shooting. You are now in a tricky situation as reading between the lines neither of you can afford to buy the other out. I fear selling the house and splitting the equity may be best option. She may then be able to start over again and the damage to your credit minimised.

peterg1965 · 26 February 2007 at 9:43AM

I agree with Mr Helpful, it was not a clean break divorce if you are still financially entwined. Your solicitor did not do a good job there, maybe there is cause for a complaint against him/her. You need to speak to your ex and get this sorted probably by selling the house ASAP, I doubt whether transferring the mortgage just to him will be permitted at this stage, particulaly if it is in arrears. Hope you get it sorted.