Mortgage shortfall & Ex-Wife's Bankruptcy

[PlanB]

Re: Mortgage & Bankruptcy

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

Sadly it isn't only women who are happy to go BR or in an IVA and leave the mortgage and other debts to their partners. There's a husband who posted on here that he plans to do exactly that to his ex-wife

http://forums.all-about-debt.co.uk/s...8&postcount=40

http://forums.all-about-debt.co.uk/s...0&postcount=42

[PriorityOne]

Re: Mortgage & Bankruptcy

Sadly it isn't only women who are happy to go BR or in an IVA and leave the mortgage and other debts to their partners. There's a husband who posted on here that he plans to do exactly that to his ex-wife

http://forums.all-about-debt.co.uk/s...8&postcount=40

http://forums.all-about-debt.co.uk/s...0&postcount=42

Yes.... have to agree there. My ex was an absolute ......

Not that it got him anywhere....

[The Tech Clerk]

Re: Mortgage & Bankruptcy

Yes.... have to agree there. My ex was an absolute ......

Not that it got him anywhere....

Hope you were not being rude there ? LOL

[PlanB]

Re: Mortgage & Bankruptcy

Yes.... have to agree there. My ex was an absolute ......

Mine still is

[PriorityOne]

Re: Mortgage & Bankruptcy

Hope you were not being rude there ? LOL

Who... moi?

Mine still is

[vint1954]

Re: Mortgage & Bankruptcy

What signed document would there have been needed especially if the mortgage was in default as seems to have been the case There's clearly £50k still owed to the bank so how could anyone have defrauded anyone if no money was handed over Mags' BF hasn't lost any money he's only inherited a debt which he seems to have been 100% liable for in the first place.

As far as I'm aware fraud is a criminal offence where the CPS (Crown Prosecution Service) would have to prove that the defendant deliberately misrepresented a situation in order to obtain money from a party by deception. I'm not sure that this may be what has happened in this case

Perhaps involving the police at this stage may be premature until the all the facts are known. There are also financial (and sometimes custodial) penalties for wasting police time

If it's a joint mortgage and jointly owned property, the BF would have to sign to agree to return the property to thr Building Society or Bank. You cannot just dispose of property that is jointly owned.

I did say without involving the police at this stage.

[PriorityOne]

Re: Mortgage & Bankruptcy

If it's a joint mortgage and jointly owned property, the BF would have to sign to agree to return the property to thr Building Society or Bank. You cannot just dispose of property that is jointly owned.

I did say without involving the police at this stage.

Unless the ex lied and said she didn't know where he was....

[PlanB]

Re: Mortgage & Bankruptcy

If it's a joint mortgage and jointly owned property, the BF would have to sign to agree to return the property to thr Building Society or Bank. You cannot just dispose of property that is jointly owned.

What is the form which they would both have to sign?

Would you consider allowing a creditor to recover the security they have over a debt in default to be "returning a property" when they already have a charge on it?

Neither party would need to give the lender permission to repossess the property which was in substantial negative equity (£50k owing on top of the mortgage) increasing monthly if the mortgage repayments weren't being met.

Whatever happened nobody lost any money and probably even saved a few bob by avoiding all the legal costs associated with possession proceedings. In most cases the keys get handed in after possession proceedings have been issued in order to avoid the unpleasantness of being evicted by the bailiffs particularly where there are children involved

This may/may not have been the case. But I can't see any possible advantage to the ex-wife to hand back the keys without a valid reason since if she was going BR it wouldn't have made any difference to her whatsoever if she stayed put until the OR seized the house. And even then the lender would have been a creditor wouldn't it? At that point Mag's BF would have got no money from the deal only the certain knowledge of his 100% liability for any shortfall which has been the case since they bought the house together in the first place.

[PriorityOne]

Re: Mortgage & Bankruptcy

Jointly owned property (in negative equity) can be disposed of if no-one is able to make contact with the owners and a debt is building up.

This is why I think the ex may have withheld the BF's contact information until everything was done and dusted; she wanted to sort out her own living situation first, for whatever reason.

[PlanB]

Re: Mortgage & Bankruptcy

Jointly owned property (in negative equity) can be disposed of if no-one is able to make contact with the owners and a debt is building up.

This is why I think the ex may have withheld the BF's contact information until everything was done and dusted; she wanted to sort out her own living situation first, for whatever reason.

That makes sense. And she may even have withheld his contact information so that he wouldn't get chased by the lender It's been seven months since this happened and Mag's BF has only just heard about it from a solicitor which suggests that the lender has spent seven months trying to trace him which wouldn't be the case if his ex-wife had grassed him up at the time.

He's on the electoral roll at Mag's place and he lived at the old house with his wife until about 3 years ago which means he could have been linked and therefore easily traced through the CRAs

[MrsD]

Re: Mortgage & Bankruptcy

I think the BF needs to tell us did he know the mortgage was in arrears?
and again he was faithfully paying what he thought was his half of the mortgage every month, presumably to ensure that his children had a roof over their heads, so somewhere in the last year or so that went sadly wrong, so what happened?

[The Tech Clerk]

Re: Mortgage & Bankruptcy

I think the BF needs to tell us did he know the mortgage was in arrears?
and again he was faithfully paying what he thought was his half of the mortgage every month, presumably to ensure that his children had a roof over their heads, so somewhere in the last year or so that went sadly wrong, so what happened?

Need to get to the bottom of this????????????

[PriorityOne]

Re: Mortgage & Bankruptcy

It sounds the BF was paying this money to the ex and if so, it's no wonder she didn't want to rock that particular boat by telling Santander where he lived.

I agree; more details are needed please....

[PlanB]

Re: Mortgage & Bankruptcy

It doesn't matter if your house is in negative equity so long as your mortgage payments are up to date because the lender can't touch you. Plenty of people are riding out the Recession in this boat.

Hindsight is useless but if only the BF had paid the mortgage money direct to the lender That wouldn't have prevented his wife from not paying her half but at least he would have had a line of communication with the bank so this situation may have been avoided

[Mags76]

Re: Mortgage shortfall & Ex-Wife's Bankruptcy

Hi guy

sorry not been on over the weekend been trying to get my BF to open up and talk to me but no joy (still raw/angry that the ex can do this to him i think).

Anyway as far as i know my BF was paying money every month for
a. the children
b. the mortgage
c. payment of a joint credit card

right, found out that she had not been paying the credit card BF got debt recovery letter to my home (so creditors knew where he was, right?) we have picked up approx £8k bill (nice huh)

as far as the mortgage goes he does not think that she missed a payment the only thing he got from ex was that (in a very nasty way) you f*^%ing left so i didnt want to stay in the shitty house so i handed back the keys!! she is now living in wait for it my BF best friends old home which he rented to her. (BF not too bothered about this as quite rightly so he knows his kids are in a nice neighbourhood and nice house)

now if I have got all your comments/answers correct in my head the first thing i should get him to do is SAR santander to find out exactly what happened?
I would have thought if the keys were just handed back then my BF would have also had to sign them over??

A tad confused but is this what i should do?