Need to move house but cant sell and concerned about repossession

[Laura-Leanne Marshall]

Hi Guys,i was looking for a bit of advice with regards to my mortgage and would appreciate other peoples opinions on my situtation.To sum up what has been going on in April my ex left, he got with his new girlfirend living in a flat within 7 days. We have 2 kids together and a house that we have a joint mortgage on. things have got nasty to the point were my car was petrol bombed 2 weeks ago whilst parked outside my house. this has caused great upset for the kids as they are terrified that the house will be up in flames next. it turns out that it was my ex partners new girlfriend who has come up with the plan and got someone to do it for her. with this being the reason i no longer want to live in my house as the kids are scared to go to bed, which is going to cause problems when back in school, and my ex only lives around the corner so the chance of bumping into the pair of them is more than likely.i have had the house valued and it is not valued high enough to pay off my mortgage as the outstnading figure is £65,000 ish, so selling isnt really a possible option at the time due to the housing market being so low, but i want to move out asap. has any one any suggestions what i can do considering the circumstances?thanksLaura

[BornThisWay]

The best option might be to rent it out and use the money to pay the mortgage while you rent somewhere else.

 

Obviously your ex cannot walk away from his responsibilities to you and the children - what arrangements have been made for maintenance, etc?

 

As he is co-mortgagee he would need to agree to this and so would the mortgage company who would doubtless want to put the interest rate up - just because they can!

 

Do you have relatives you could live with temporarily, or have you tried talking to social services? Presumably the Police were called to the earlier incident so there is evidence which makes it clear you are not safe there.

 

Either way, and depending on your cirmumstances, get a solicitor, with Legal Aid, if necessary. It may interest the new girlfriend to know that her earnings could be taken into account in assessing how much your ex should be paying for his children! That could cool their passion a bit!

[Laura-Leanne Marshall]

thanks for your reply, I am currently on tax credits with being a single mum on a low income if i rent it out they would stop as it would be seen as a second income, which i cant really afford to do.i have tried to get the mortgage company to give me a payment holiday to give me some time to assess my finances and sort out what is best but they said no because we have seperated we wouldnt even be considered.yes the police, social services and any other service you can think of are involved in the situation as its got quite serious. i am awaiting a reply from a few people to see if they can assist with anything. i dont actually qualify for legal aid at the minute as i apparently earn to much, even though my bank statements show there is never much money in the bank it doesnt matter because they only take into account certain things when working out if you qualify.there are no arrangements for maintenance as he isnt working, and i doubt he has any intention of working, she doesnt work either so no joy there. i have been in contact with CSA and i got one payment from his last wage at his job but that is it.a few people think i just need to move and let the house get repossesed if selling doent work out as a option but its a big decision to make as i am only 25 and would never get credit again any time soon.

[BornThisWay]

Laura I am really sorry to hear all your problems. You clearly hitched up with the wrong man, but I'm guessing you realise that only too well.

 

It is difficult to advise but basically you are joint mortgage holders so whatever happens now will affect you equally. If you just hand back the keys the mortgage company will sell the house for the best they can get for it but each of you will still owe any shortfall and they may pursue that for years. Again you would only be responsible for your half of the shortfall.

 

Given the circumstances and the violence, etc., I would expect the local authority could rehome you and your child at least temporarily. It won't be anything fancy but I think you would be better off away from the area in which you currently live.

 

You could certainly try and sell the house in the short term - it takes time for a mortgage company to reposses and this would reduce the shortfall as oppsed to letting the mortgage company sell it.

 

I think my advice would be to get out of the house, put it on the market, and see what happens. In the future I would think lenders would look upon you reasonably kindly if you fully explain the circumstances of you having the house repossessed - if that is what happens. You are left in a situation with very little options and it is your ex partner who has caused these problems.

 

Good luck. Remember you are very young, and you have time to rebuild your life after you are rid of this man. What astonishes me is that any woman would want a man who is prepared to leave a woman and child! She must be desperate! But that is another story.............!!

[Laura-Leanne Marshall]

Thanks. its just such a hard decision to make. i want to move but i have picked the wrong time of year to try and move house. its just seeing what is best for the kids really. i would hope that in the future people would understand why i had to move rather than just chose to move.its difficult too cause my mum says move and get away from it all but my dad says sell the house first. i have already started sorting out and packing up some things to make the move easier when we do move. i am just stuck between making the decision to run away from it all and start again. which if i do i know the mortgage company would want the shortfall which i have no objection to paying as its what we owe i just dont want the house any more. i wish there was a easy option, a quick get out.well i have definately learnt my lesson and from now on its just my name on things i doubt i will get anything in joint names again as the hassle this is causing is ridiculous. my mum and dad never liked him and maybe i should have listened. lol

[xprettypeachx]

Hi hun I hope you dont mind me posting but I am in nearly the same position as you, and i havent got a clue what to do either.How are you getting on? I have found this site a gods send cos lke you I dont qualify for legal aid. Good luck with everything and If you need a chat or anything pm me. x