I am in a mess financially

QueenBeruthiel

HappyMJ wrote: »

It's either remortgage at a high financial cost....or....sell the house but as the OP's health condition requires urgent surgery I'm sure they won't be wanting the stress of moving out of their own home and into rented and all that entails.

The husband may not want to stop being a homeowner. I certainly wouldn't...so I would (if I were him) remortgage. The OP's credit doesn't usually matter there are ways around that. The OP could gift her share in the property to her husband and take her name off the deeds and the mortgage to enable her husband to get a mortgage to give her the money to pay for her medical costs. She doesn't earn anything so it's not going to make any difference to the amount a mortgage lender would lend whether she's on the mortgage or not.

Sound advice.

The £42K is the game changer. If it was just the debt, ways and means could be found. But if £42K has to be found then remortgaging is the only viable option (excluding lottery win, rich relative...). If the husband is going to put himself in hock for years, then at least there will be a quid pro quo: the house will be entirely his.

Well, once the bumper mortgage has been paid off.

Before going any further, I would urge the OP to look into the possibility of having the operation abroad, to possibly cut the cost.

Flugelhorn

I would suggest seeing a different consultant for an opinion

ampersand

louloufox wrote: »

Am I the only one who feels this whole story does not ring true?

£250,000 debt already and no income?

#
op - you bring this poster to mind -
https://forums.moneysavingexpert.com/discussion/5266628

Maybe you know each other...............

Whatever is motivating your post, please see my signature and contact CAPUK:
https://capuk.org/
Read through ALL the main headings thoroughly. Don't just glance and discard everything at the 1st 'that's not me' you find.
https://capuk.org/connect/latest-news/we-are-debt-advice-provider-of-the-year

Martin recommends CAP, which should be AYE enough.:)

stiltoncheese

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stiltoncheese

SOrry about post above...my one year old pounced!!!

asparagus1968

I've just looked back at the SOA on the post Ampersand referred to- extremely similar- marmitechops if you are not the same poster (uselessnow) then have a read of that thread, the advice given there may be of help as your situations are so similar.
good luck

marmitechops

Candyapple wrote: »

Does your husband know about this £42k op that is required? If yes, how has he mentioned how you two would go about funding it?

If you were to re-mortgage your house, don't forget that if you don't tell him about your debts that it will all come out then because as you have a joint account, your credit history and debts will affect his credit file and vice versa and it would definitely affect any re-mortgage amount.

£25k in cc debt is a lot of overspending. Do you have anything you could sell to pay towards the debts?

If you really can't face telling your husband then have a look at snowballing your debt:
http://www.whatsthecost.com/snowball.aspx

My advice is to come clean to your husband about the debts and the both of you need to sit down and work out a budget and both be accountable for your money, not just one handing the reigns to another whilst the other has their head in the sand. Whilst your husband may be upset, better he finds out now than however long down the line when you can no longer keep up the repayments and he finds out himself.

Hubby has contacted the mortgage people but we are not allowed to borrow any further money

marmitechops

ampersand wrote: »

#
op - you bring this poster to mind -
https://forums.moneysavingexpert.com/discussion/5266628

Maybe you know each other...............

Whatever is motivating your post, please see my signature and contact CAPUK:
https://capuk.org/
Read through ALL the main headings thoroughly. Don't just glance and discard everything at the 1st 'that's not me' you find.
https://capuk.org/connect/latest-news/we-are-debt-advice-provider-of-the-year

Martin recommends CAP, which should be AYE enough.:)

I never said that I owed 250000. I owe on cards just short of £22,000

marmitechops

Flugelhorn wrote: »

I would suggest seeing a different consultant for an opinion

It is the senior consultant that I have seen, previously my neurologist and my GP.

marmitechops

am no way linked to the other person you are asking about. I only signed up on here a few das ago