I am currently going through an ugly divorce, my wife refuses to accept 50 / 50 she wants 60/40 the house has been on the market for 2 years and i cannot afford to pay the mortgage i want to let the house be repossessed, as it is in joint names.
Will this affect a house i have just bought with a difference mortgage company in my sole name. my house that is going to be repossessed is worth 225,000 the outstanding mortgage is 110,000. My wife wants to leave me with nothing
Hi
I think that it wll only affect you if there is a shortfall from the forced sale and looking at your figures it seems that there will not be.
Please take professional advie on ths matter
Regards
If the house is repossessed, there will be a lot less money available for you both, once the costs of possession and eviction are taken into account. Surely there must be some middle ground for you here with your wife - and surely 40% of something is worth more than 50% of a much lower sum.
Do you have other debts to be taken into consideration?
