Desperate

FlowerGirl27

You can offer the equity lump you receive to a landlord as a security deposit so you can rent a place.

There's always a way.

silvercar

Slightly different slant in this thread.

You don't have to remove your husband from the mortgage or buy him out. What you need to do to keep the house is find a way of paying back the equity. Easiest would be if the trustee accepts a charging order so you can stay put until the children leave school.

do I have to raise nearly 100k?? Our mortgage is 292k and the property value about 375/400.

If you both own the home, irrespective of who has paid the mortgage, you have half share of the equity. Argue this point firmly with the trustee. Their share should be 41-50k. Get an estate agent to value, emphasising you would be aiming for a quick sale in current condition.

Can your father in law help? If you could find a very supportive family member who would remortgage their own home to release enough to pay the trustee, the family member could then put a charge on your place to be repaid on sale.

If you are looking to remortgage, you could both remortgage keeping the ownership and property and mortgage as joint and take into account both incomes. I accept that him being a discharged bankrupt won't help, but a mortgage broker may know of a friendly lender.

threeofus

Thanks for your help, sorry if I sound angry there is a or more to it and it has been brought about by his reckless spending - not sure what on but he has had money, runs a business works every day his parents have pumped money to save that, thousands of pounds and he has never owned up to what he spent it on - it's not just a case of unfortunate circumstances.

I've phoned about somewhere to rent and am hoping they will accept me the children and cats, they've said not to mention benefits, but all the equality I have will have to be spent on rent and that breaks my heart I've been paying into a mortgage for 17 years it's just making me ore angry with him.

I've just got to get on with it, sort out a home for me and the children, that's daunting to say the least and I'm sorry if I sound selfish/spoilt:angry but it's just a shock and I'm grieving the end of what should have been a much happier life.

haras_nosirrah

with your share of the equity would shared ownership be an option? with the amount of equity you have as a deposit you may be able to buy for cash for your share and then have a much lower rent to pay than on the open market or even be elligible for housing benefit on the rent. if you rent you will have more than 16k in savings so no housing benefit until the money has gone. Just a thought - I know there is a lot of shared ownership in brighton as I am a local mortgage broker who deals with it a lot

FlowerGirl27

There are a few options so no need to worry now

threeofus

I'm still worried though, I've had a lot of abusibe behaviour which has hampered my ability to sort things out, it's taken up a lot of my energy and clouded my judgement. I'm just going to speak to the trustee to see what he will accept

threeofus

I'm still worried going to be honest with the trustee and hope that my reasons for a charging order are enough

FlowerGirl27

Hmmmm. Ok.