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Should friend default on her mortgage? Nasty divorce

(7 Posts)
WentworthMillerMad Thu 09-May-13 21:45:29

I have posted before as I am so worried about a friend - same friend. We Scotland based.
She is going through a nasty divorce, they both moved out of their family home which is now empty and on the market. She has rented an amazing home from her sister and could just afford to pay half the mortgage on the family home as well as her new rent as a short term measure. Not saying this was the wisest idea ever but husband has not paid his share of mortgage for 6 months and she is now on her knees financially. Her solicitor has sent many letters to husband and all ignored. Final straw is solicitor now wants her to refuse to make any more mortgage payments - default and the family home be repossessed. Solicitor has written to ex to tell him This in a last ditched attempt to make him pay his share.
Any thoughts as I am lost on how to advise her and I feel scared for her.
Solicitor has said she will be blacklisted for 5 years if flat repossessed.

MatureUniStudent Thu 09-May-13 22:19:37

Get an emergency hearing at county court an an interim maintainence judgement so he will have to pay his side of the mortgage. Buy time by keeping the mortgage just under 3 months overdue by making the minimum payments to do this.

LifeofPo Thu 09-May-13 22:22:25

Message withdrawn at poster's request.

jayho Fri 10-May-13 06:53:08

Agree with mature, I had to get emergency interim maintenance from my crap ex it was very straightforward. I'd avoid defaulting because of the knock on effect on her credit rating.

CogitoErgoSometimes Fri 10-May-13 07:32:09

I wonder, has your friend spoken directly to the mortgage company about this? Do they know that one of the mortgage holders is defaulting already? This is as much a financial as a legal issue and my concern would be that simply 'handing back the keys' as it were, would mess up her chances of getting mortgages in future if she doesn't do everything possible to keep on good terms with her lender. I'd also have thought that reducing the price of the house for a quick sale would beat repossession, even if they lose out short term. I'm sure her solicitor is onto it already, but when the house-sale comes through, her ex's share of the proceeds should be reduced by the amount that he has failed to pay in arrears.

WentworthMillerMad Fri 10-May-13 13:30:58

Thanks everyone, I fear she hasn't spoken to the company as I think she is now so down and sad about the whole situation that she can't think straight. Am meeting her later and will advise thank you all!

MatureUniStudent Sun 12-May-13 09:08:21

Speak to the mortgage company. Step change free debt charity is recognised by mortgage companies. If her mortgage was after 2003 and before 2012 she will be entitled to mortgage tax relief from the government. Make the mortgage interest only. Speak to the council, the have a scheme to buy back the flat and rent it to her. There is also another pot of funding I forget. Step change debt charity were brilliant and cost NOTHING. Get her empowered. Face this head on.

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