Lost my marriage and job and really don’t want to lose my house too....

[Deleted User]

As it seems its going to be quite a while before you will be able to rely on cruises providing an income, have you been looking for any job to tide you over.  I know its not what you want but many of the supermarkets were advertising for staff last week.  It would  at least be some kind of an income and more than benefits.  

And, assuming there are spare bedrooms, I'd rent one or better, two rooms out and use that money to pay your ex for his share of the home (bearing in mind if you moved out you'd have to pay rent on somewhere so you are saving that)..  But have a conversation with him to see what he wants first.You could even rent out the lounge if necessary.., just to tide you over til things stabilise. I have seen someone do this to keep  their house.  It was only for a year or so.

Mojisola

cg90 said:

We combined our life savings from the cruise ship and brought a house about a year ago, mortgage free. Now I have to deal with that house, to give him his share back. I know the best thing to do is to sell, as we have made a tiny profit and then I would have a fair chunk of money in my account to get me through this period of unemployment due to covid.
However. The house is my dream home. I don’t think I’ll ever be in a situation again to buy a house like this. If I rent it out, he won’t get his share back, but if I sell, I’ll never find the house of my dreams again
Or do I just need to face the music and sell? 

I think you do need to sell - it's very unfair on him for you to benefit from his life savings while trickling small amounts of money to him, as and when you can spare it. 
How would you feel if he was staying in the house and you were being left without your savings?

macman

You don't have any choice. If you don't sell, your ex will take you to court and will probably win. You will then have to sell anyway and pay unnecessary legal fees. 

Wanderingpomm

macman said:

You don't have any choice. If you don't sell, your ex will take you to court and will probably win. You will then have to sell anyway and pay unnecessary legal fees. 

You do have a choice. What has he said? How desperate is he for the money? There are a few options including paying him rent on his half. You need to get a job though as a matter of urgency. 

Brock_and_Roll

It might be a dream house but the next few years will be a very expensive . stressful and pointless nightmare if you try to fight the inevitable.

Better to sell now, get life back on track and who knows both another dream husband (perhaps even a rich one!) will come along and/or another dream house. I would not rule out you being up dancing again on ship by next summer!

AdrianC

Severing all financial ties as soon as possible with a US national/resident also brings one very big advantage, by taking the OP out of the scope of the US's FATCA legislation.

moneysavinghero

Lots of people would love to live in the house of their dreams - but they can't as they cannot afford it. Unless you can find the money to buy out his share then you are in the same boat.

Unfortunately it's time to get back to reality.

Sistergold

I am really sorry to hear of what has happened to you. I hope you will be able to find a good solution to this. I think you will get better advise if you say what you think is the value of the house? And  Where is it located? Approximately how much is his share? 

Why I am asking if the house is worth £40k then well if his half is £20k then it might not be out of this world to scramble around and Mr X might not mind waiting? If the house is worth £600k and his half is &300k then I doubt Mr X will be so patient and also it will be difficult for you to think of organising such an amount? 

Figures here is the question 

moneysavinghero

Sistergold said:

I am really sorry to hear of what has happened to you. I hope you will be able to find a good solution to this think you will get better advise if you say what you think is the value of the house? When one says they bought a house cash it might make people think that the house is worth hundreds of thousand of pounds. 

So what is the value of the house? Where is it located? Approximately how much is his share? 

Why I am asking if the house is worth £40k the. Well £20k might not be out of this world to scramble around and Mr X might not mind waiting? If the house is worth £600k the I doubt Mr X will be so patient and also it will be difficult for you to think of organising? 

Not sure a 40k house is going to be the house of many peoples dreams..

Sistergold

moneysavinghero said:

Sistergold said:

I am really sorry to hear of what has happened to you. I hope you will be able to find a good solution to this think you will get better advise if you say what you think is the value of the house? When one says they bought a house cash it might make people think that the house is worth hundreds of thousand of pounds. 

So what is the value of the house? Where is it located? Approximately how much is his share? 

Why I am asking if the house is worth £40k the. Well £20k might not be out of this world to scramble around and Mr X might not mind waiting? If the house is worth £600k the I doubt Mr X will be so patient and also it will be difficult for you to think of organising? 

Not sure a 40k house is going to be the house of many peoples dreams..

This was just an example thanks, that figures would have been a good point to start in-terms of solutions?