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

getmore4less

There is no profit till it is sold.
If you want to drag it out it is fairly easy and you can delay court action 
current estimate is over a year to get rental evictions forced sales are not going to be quick.

As has been asked more important is an assessment of the medium term and what the plans are and how desperate is the ex for the money.

What were the plans when you bought the place cruise ship contracts are generally fairly long even for cast so you would not have been living in it much while still doing ship contracts.

What about your longer term plans and ship work, cruises have restarted, the US will probably come online again early next year slow to start but will ramp up, maybe a year depending where you are in the pecking order for rehire.

if not planning to return how long to get into a line of work that will cover a mortgage, land based dance jobs are probably going to non existent for longer than cruises.

Selling up does have its advantages over dragging it out till you can raise funds.

macman

Wanderingpomm said:

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. 

The OP can't pay rent, she has no income! 
The ex would be a saint if he were happy to let her continue to live FOC in a property that he owns half of and has paid half for. He might be OK to give her time to sell, but it's not going to be an open-ended offer.
There are no children involved, so the issue of providing a home for them does not apply. 

TBagpuss

OP, the only way that you are going to be able to stay in the house would be if either your husband is willing to agree to delay it being sold, to give you a chance to find a job and apply for a mortgage, or if you have some other way of raising the money to buy him out (e.g. if you have family willing to lend you the money against the house) 
Either way, you would be left with a big debt either to the mortgage lender or to your family, so you would need to be ableto afford the repayments on that. 

Realistically, your best bet is probably to sell and use the money to buy a smaller property. I realise that you are not going to be able to work in your former job for the present, but if you can manage to get a job of any kind, that will give you some income nad begin to build up some mortgage capacity so that when the house sells , you are able to borrow a bit to top up whatever your share of the equity will buy.

If you delay selling, then amount that you have to pay your ex may well go up, if the value of the house increases, and he might argue for more than half if they fall, on the basis that the loss can be attributed to you delaying the sale.  he will potentially also end up with a tax liability if there is a long delay, and presumably, if you both worked on cruise ships, he will be needing his half of the money now anyway.

If you do have or ca get a job, you might be able to do a deal here you paid him some money now and a further amount at a later date, and might be able to get a lodger or two as well as working yourself, to cover the mortgage and other payments, but you would need to work out the figures really carefully to see whether there is any realistic possibility of being able to afford to run the house and pay any mortgage or loan.

moneysavinghero

Black_Cat2 said:

Hi cg, you have really been through the wringer, sorry to hear that. Lovely peeps here will be able to help with the house stuff but I wanted to add that life does have a way of surprising you when you least expect it.  It seems dire now but who knows, you may meet your Mr Right in the future (when you're ready), who, crossed fingers, comes complete with a dream home of his own! 😸. Good luck 

Fascinating insight into the female mind.

Mojisola

moneysavinghero said:

Fascinating insight into the female mind.

Some females.

DayDreamerandGeneralWaster

Jeez she's just trying to offer some words of comfort to someone in distress. Y'know, the sun will come out tomorrow type of thing? Sometimes these things work out for the best? 

moneysavinghero

DayDreamerandGeneralWaster said:

Jeez she's just trying to offer some words of comfort to someone in distress. Y'know, the sun will come out tomorrow type of thing? Sometimes these things work out for the best? 

Could have done that with "Y'now you might find a decent job and be able to afford to get a mortgage on your dream home" but instead went with "You might meet a rich guy who already has a dream house ready for you to move into"

Black_Cat2

moneysavinghero said:

DayDreamerandGeneralWaster said:

Jeez she's just trying to offer some words of comfort to someone in distress. Y'know, the sun will come out tomorrow type of thing? Sometimes these things work out for the best? 

Could have done that with "Y'now you might find a decent job and be able to afford to get a mortgage on your dream home" but instead went with "You might meet a rich guy who already has a dream house ready for you to move into"

Was trying to help her look on the brighter side of things in what is clearly a difficult time for her.  The last line was tongue in cheek, no need to read anything otherwise into it.  Thanks Daydreamer, glad you took it the way it was meant, as I hope the OP will too ❤️

NameUnavailable

It would seem the question is pointless without knowing what the other party wants from this. We can only assume that they want their half share of the house in cash as they're living back in the USA.

So, you can't get a mortgage at present. Presumably you don't have any rich relatives you can borrow from. Yes - you can get a bank to 'buy the other half' - that's called a mortgage.

The harsh reality is that you probably have to sell up. Depending on figures that may leave you in a position where you can buy a smaller property outright, and have some funds to keep you going whilst you look for another job. Down the line you will still have the equity in the new home to use towards buying something 'better' when you can get a mortgage having had some track record in your new job etc.

Good luck with it all.

Black_Cat2

@cg90 wondering how you are getting on with your situation?  Would be good to hear from you for an update if possible 🐈