will I lose my house through husband's debts??

SteveABC

Hmmm - how history repeats itself!

My wife left me and went BR (without telling me!). :mad: All the debts were in joint names, so you guessed it - they all became my sole responsibility - hence a year later I had to go BR as well as the debt repayments on their own totalled more than my monthly income. (She was the major wage earner).

I could have kept the house (in neg eq), but I couldn't even afford the secured payments, even if the BR dealt with the unsecured, so I just left it and let things take their course (repossession).

It was too late for me to try and take my name off joint accounts, as she had already gone BR, but when I did enquire about it for the mortgage, it was a definite "NO", as I did not earn sufficient on my own for the mortgage we had.

So, basically, yes you can keep your house but you have to be able to meet all the secured loan repayments on it, and the OR needs to be satisfied that he has no beneficial interest in it.

Whatever you decide to do, good luck, take care and get as much advice as you can.

mattannar

If the mortgage company make you remortgage do you earn enough to get the mortgage? Just being able to repay maybe will not be enough, especially if the house is in negative equity.

Mouse1812

mattannar wrote: »

If the mortgage company make you remortgage do you earn enough to get the mortgage? Just being able to repay maybe will not be enough, especially if the house is in negative equity.

Mortgage company can not make you remortgage, so long as you stick to the original terms and meet the monthly payments they are bound by the agreement as much as you are.