Mortgage shortfall & Ex-Wife's Bankruptcy

[kilasuit]

Re: Mortgage & Bankruptcy

Oh and just to clarify the house is gone/sold

I would suggest that you look at counter action to the mortgage lender if that is the case as IMO this is a serious breach of trust on this issue especially if ex Wife defrauded the mortgage company into thinking he was in agreement to this.

All else i can say is that i hope we can help find a solution to this

[LooLoo]

Re: Mortgage & Bankruptcy

Hey guys thanks for the replies, i am confused by it all at no time did anyone get in contact with my bf about all of this happening no lawyers no mortgage company nothing and he is on the electoral role at my home, trying hard to take all your comments on board but gettin a bit overwhelmed and its really hard seeing my man like this

i think they probably tried to contact him at the old address and maybe as the mortgage was in joint names - the letter probably came address to him and his ex wife - and it is only now that the ex went BR - that they have traced him at your address.

Oh and just to clarify the house is gone/sold

I thought that would have been the case they dont normally hang around do they......

[MrsD]

Re: Mortgage & Bankruptcy

Mags

The Scottish sequestration rules are a bit different, stricter in some senses more sensible in others. You should have a good shoogly through the AIB website and also Shelter Scotland might be worth a call.

Was she paying her half of the mortgage?
Was she paying in the money your BF was sending or was she just spending it on other things?

I think you need to ask a few questions.

Was it an ordinary mortgage with a bank/building society or was it subprime?

Just that sometimes there are different rules written into the mortgage application etc, about who is living there etc.

All worth a research......................

[vint1954]

Re: Mortgage & Bankruptcy

You would have thought that if there was any kind of transfer back to the Building Society, just like a sale, you would need both signatures to tranfer the property.

I cannot see the BS acceping one signature and just accepting one signature to take the property back.

That then begs the question, was the document to transfer back to the BS fraudulently signed by the ex.

That would obviously be a matter for the police and ccould prove useful if they did not check carefully enough.

Perhaps your BF should request a copy of the document transferring the property back to the BS, so he can check the signatures.

[Mags76]

Re: Mortgage & Bankruptcy

Vint

This is a very good point and i have brought this up with my BF, but understandably he said that he could not involve the police or anything like that because of his kids (i fully understand this).

The first thing i asked him was "HAVE you signed anything"?
he swears blind that he hasnt and i do believe him, however I cannot for the life of me understand how a mortgage company (its Santander by the way) can take back a property without consulting both parties named on the joint Mortgage.
Might I add that his ex works in a bank so i dont know if someone has been guiding her through what she has been doing!!

So this brings me to this: What should I do first? My BF aint up to this he is hardly even speaking at the mo and i swear i heard him crying last night something i never thought i would ever hear.

Before all of this come out I also helped my BF get Approx £4k back on PPI on a joint credit card he held with his ex and he gave her half of it for the kids (and quite rightly so) then a couple of months later she dumped the balance of another credit card of £5k in his lap as well that she had not been paying (he gave her the money every month) so my BF was trying his best not to let his kids suffer from their split I really dont understand how she can get away with this when he has done so much to help her.

Sorry rambling a bit their, so first step would be?

thanks guys the fog is starting to clear a little x

[Mags76]

Re: Mortgage & Bankruptcy

Mrs D

I will have a look at that site today thank you xxx

[Mags76]

Re: Mortgage & Bankruptcy

Mrs D i am on the AIB website but i aint got a clue what i am supposed to be looking for, sorry im a bit of a numpty sometimes lol

[Mags76]

Re: Mortgage & Bankruptcy

Hi

A wee quick question

Does it make a huge difference if she declared herself bankrupt before or after she handed back the house to the mortgage company as i am not sure of which order she has actually done this in?

[IF]

Re: Mortgage & Bankruptcy

Hiya Mags, I am sorry but don't know a lot about Scottish BR and hopefully another poster can advise further.

IF...x

[MrsD]

Re: Mortgage & Bankruptcy

Hi Mags

If she works in a bank, how come she was able to go bankrupt?

I thought you weren't allowed, same with sticking your BF with CC debt.

Personally your BF needs to sit up and take some notice, I guess he's in shock and never thought that she would stoop as low as this, guess he's had a hard lesson. But he has to look after himself and you, I know his children are involved here, and I totally understand, however their mother hasn't exactly taken great care to keep their lives troublefree.

You still need to ask the trickly questions of where they money went? You probably need to get a summary of the account with Santander, tell me she doesn't work at Santander as well???

I think she would have had to hand the keys back before she went bankrupt,

To be liable for the shortfall from a mortgage do you not have to sign a deed of acknowledgement? has your chap done this?

any of you bankruptcy wizards know the score here?

[PlanB]

Re: Mortgage & Bankruptcy

. . . the mortgage company without telling him, we came home yesterday to a letter from a lawyer to say that my boyfriend is liable for the whole entire mortgage shortfall of £50k he contacted his wife and she politely told him its not my problem i have declared myself bankrupt!

.

How do you know she really has gone BR? Have you actually checked the register because she could be bluffing

[kilasuit]

Re: Mortgage & Bankruptcy

How do you know she really has gone BR? Have you actually checked the register because she could be bluffing

Deffinately a good point there PlanB.

Sorry to point this out but Ex's (especially women) tend to be the worst at being honest about things to their ex partner.

[vint1954]

Re: Mortgage & Bankruptcy

I would be nclined to obtain a copy of the signed document handing the house back as a first action. See what that says first.

There is no harm letting Santander know that you think there is something wrong or fraudulent, without involing the Police, athough Santander may do so at some point.

See who has signed the documents, then take it from there.

[PlanB]

Re: Mortgage & Bankruptcy

Sorry rambling a bit their, so first step would be?

The first step is to do your research

If you know the address of the property (obviously you do) check out what the house sold for on nethouseprice.co.uk where you enter the postcode and all will be revealed for free:

http://www.nethouseprices.com/

Then cross check that against the outstanding mortgage to see whether it's likely there was any money left over after the sale. I doubt it because nobody in their right mind would hand in the keys of a property unless it was in negative equity And if the lender is chasing for a shortfall then there must have been a shortfall

A joint mortgage makes both parties to the mortgage jointly and severally liable for the debt. The lender is at liberty to chase either or both for the money. If they can't get it out of one party they'll start chasing the other

[vint1954]

Re: Mortgage & Bankruptcy

Hi

A wee quick question

Does it make a huge difference if she declared herself bankrupt before or after she handed back the house to the mortgage company as i am not sure of which order she has actually done this in?

I doubt it. Handing back the property would be the same as selling it. Both parties would have to agree.

"Where two owners of real property are married to one another, they will also have to consider the terms of the Family Home Protection Act 1976 if they wish to sell or mortgage the property. The Act requires that, before such a property is sold or used as security for a loan, the written consent of both parties is required - even if the property is registered only in the name of one of the parties."

Have a read here: http://www.lawyer.ie/property/tenancies

"
A joint tenant is not entitled to convey land held in joint tenancy or acquire another interest in such land without first obtaining the consent of the other joint tenancy under Section 30 of the Land and Conveyancing Law Reform Act 2009, and any such conyenace is void at law and in equity. Consent means the prior consent in writing of the other joint tenant and if there is more than one, all of the other joint tenants."