Mortgage Nightmare

Phoenix22

Hi,

I have a mortgage with my ex partner for the past few years, we were engaged to be married, long story short she broke off the engagement and started seeing someone else. I had to move out of the house, left most of my possesions there, couldnt even bring my dog with me. All the money I put into the hous eover the years now for nothing.

She agreed she would apply to get the house transferred over to her name which was fine by me, she signed a letter stating that she didnt want any financial commitment from me towards the house.

The bank refused the transfer of deeds and ownership to her, now she wants to hand back the keys to the bank and move in with her boyfriend somewhere. Im not sure what the implications of this are, I would imagine the bank would sell the house at a loss and we would both have to pay the remainder off.

Does anybody know of this happening to anyone and what the outcome was? Its unfair now that I will more than likely have to pay half of whats owed because of her selfishness.

Any info at all would be great.

johnnyskeleton

You should seek legal advice.

If the house went up in value you'd want a slice of the profit, so why can't you share the loss?

Phoenix22

johnnyskeleton wrote: »

You should seek legal advice.

If the house went up in value you'd want a slice of the profit, so why can't you share the loss?

Thanks jonnyskeleton

Although, I was happy to sign the house over to her and not look for a cent from her, then if the house went up in value she could sell it herself and make all the profit she wanted. I just want to be rid of the mortgage and dont see why I should now have to pay if it comes to it as this is all her fault?

Zambia

The bank have no interest in who is to blame for ending the relationship. The bank assessed her and realised she'll not be able to make the payments on by herself. This is probably why they do not want your name off the mortgage they require two people to chase for debt. As posters have said you really need to talk to a solicitor.

seb65

Phoenix22 wrote: »

Hi,

I have a mortgage with my ex partner for the past few years, we were engaged to be married, long story short she broke off the engagement and started seeing someone else. I had to move out of the house, left most of my possesions there, couldnt even bring my dog with me. All the money I put into the hous eover the years now for nothing.

She agreed she would apply to get the house transferred over to her name which was fine by me, she signed a letter stating that she didnt want any financial commitment from me towards the house.

The bank refused the transfer of deeds and ownership to her, now she wants to hand back the keys to the bank and move in with her boyfriend somewhere. Im not sure what the implications of this are, I would imagine the bank would sell the house at a loss and we would both have to pay the remainder off.

Does anybody know of this happening to anyone and what the outcome was? Its unfair now that I will more than likely have to pay half of whats owed because of her selfishness.

Any info at all would be great.

Sounds as if you're still bitter about her breaking off the engagement/dating someone else. If you've put loads of money into it and didn't want to move out - why don't you simply move back in? She's still liable for half the debt as you said yourself, so make her pony up her share every month.

krd

Phoenix22 wrote: »

Does anybody know of this happening to anyone and what the outcome was? Its unfair now that I will more than likely have to pay half of whats owed because of her selfishness.

Any info at all would be great.

Welcome to **** creek, my friend. And the only paddles you have are your hands.

It's not all bad as it looks. Your ex was most likely a co-signee on the mortgage. And these mortgages are not non-recourse - so she's in the same boat as you. Handing back the keys means nothing - the bank can and will come after her.

Have you ever heard of "staying together for the sake of the mortgage"?

Also, I'd look up what a Faustian pact is. I know Celtic Ireland cubs were too smort for reading books and stuff, that stuff wos for loooooosers...But I would look it up my friend........I believe you and your faithless lover have signed up to one.

cackling...... a rising cacophony of mocking laughter....and then KRD vanishes in a puff of brimstone smoke.


...get your foot on the ladder, before it's too late!!!!


Get the keys back from your ex - tell her you're getting it all sorted outt. BUT UNDER NO CIRCUMSTANCES GIVE HER ANYTHING IN WRITING. Then rent the house, build a cash pile and run off to Australia, before the bank cottons on to what you're at. A la guerre, my friend, as the French say a la guerre.

barman linen

While krd has some interesting views some of his post makes sense...

If I were you I would take possession of the house and let her off with her boyfriend to rent elsewhere. Rent out a couple of rooms to try and meet the mortgage amount and trade/pay your way out of this situation.

She will claim her half eventually but if you can get the renters to cover some of the mortgage you at least wont crystallise your losses at this time. If you are paying 1/3 of the mortgage amount they are subsidising your half share.

I hope she plays ball and moves out....