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My Brother Can't Afford to Buy Me Out of My Share of the House
Comments
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Yep it's still in my Mum's name as I get a letter from the mortgage company every 6 months asking me to contact them to discuss repaying the arrears and it's addressed to me as "The Personal Representative of Mrs xxxxx"
See the Shelter website to understand about the repossession process that the lender may kick off due to the arrears. I don't know how it works when the owner is no longer alive, though, as the lender would raise court action against them. Ask Shelter.
How much are the arrears and how persistent are they?0 -
I do wonder that myself. My brother works full-time AND has the lodger's money so surely my brother would be raking it in only paying £200 for the mortgage and a few bills. But apparently not as he's done no work on the house and can't afford his own mortgage. He has definitely got off very lightly these past few years!
I expect he's done no work on the house to lower its value so that he can buy your shares in it for a pittance.0 -
There have been charges added and I think the arrears are more now than originally stated. As long as he keeps up the repayments though they seem happy but I am not. I am the eldest and I need to take action now. Time to stand up and be strong!
I can't remember how much was left on the mortgage but it was only small, less than £10k I think but will have to check my files.
Thanks for all your help everyone. I think deep down I knew what I needed to do but just felt like I needed some back-up and confirmation from others. I'll be going round to the house today to see what state it's in and will decide how best to approach the situation without upsetting too many people!0 -
I know it must be difficult, but I wouldn't worry too much about upsetting him if he's prepared to see his sister and her kids homeless rather than try and do what he needs to do to help you. I think previous posters are right, he's having his cake and eating it and he knows it!Mother, wife, scientist, analyst.
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