Need some advice, as i can''t think of anyway out of this mess.
Ex-Husband kicked me out of the FMH
4.5 years ago, and i''ve been renting privately ever since.
The interest only mortgage payments were £650, but for the last 4.5 years he''s been unpaying it by about £200pcm. often he misses payments.
A year ago, as part of the financial settlement, he was ordered to either take me off the deeds or sell the house within 90 days.
He did neither.
He has now walked out of the house, leaving it empty, and renting a house for £600pcm. Not 100% sure of his intentions but I suspect he just wants the mortgage company to repossess it, and then avoid paying anything to them.
the house is in 15k negative equity due to the underpayments and general property drop.
I would like to take it on, but i don''t earn enough to get a mortgage for £128k (i''d need at least 28k to even get a 90% mortgage). i don''t have £15k to get the property in balance either.
I could rent it to cover the mortgage, but I can''t since i''d have to find £50k to do so.
In a month or so, I''m bound to get red letters due to non-payment of mortgage. He won''t care as he''s got no shame, no responsibility.
He earns about £40k a year, I''m on £10k.
I really dont want to have to go back to court.
Is my only option to wait for the repossession, or a forced sale, accept the debt, and plead poverty or go bankrupt?