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ukfamilysolicitor, Solicitor
Category: Law
Satisfied Customers: 1370
Experience:  Qualified Solicitor Currently specialising in Family. Also experienced in Corporate, Employment, Civil Litigation, Debt Recovery
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My soon to be ex wife has defaulted on our joint mortgage.

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My soon to be ex wife has defaulted on our joint mortgage. We have been separated since Jan last year ( 2014 ) and she took over payment of the mortgage in May (2014). Our divorce is on going but we are ( or were ) getting close to sorting the finances, with her looking to take out a single mortgage having me removed from the joint one. She asked me to contact the mortgage company and agree to her having a reduced payment plan put into place while she is out of work looking for a new job. When I spoke with the mortgage company they told me she was a month in arrears and would be in arrears by a further month today ( 2nd Nov ). With her now in arrears by two months I was told by the mortgage company this will now effect my credit rating. Help, I don't know what to do!!
Welcome to Just Answer
I am a Solicitor and will assist you.
I am sorry to say that the mortgage company are simply not bound by any agreement that you make with your soon to be ex wife or even any court order in respect of the matrimonial finances.
If your ex has defaulted then it's unlikely that the mortgage company are going to release you from the mortgage anytime soon - as your ex is clearly not demonstrating that she can make the payments herself. The mortgage company do like to retain both of you when the situation is uncertain- so that they can chase either of you if their is a short fall.
If your close to agreeing the finances then you could include in your consent order - an indemnity given by you ex to you. This means that if you do have to make payments for a shortfall - then you can sue your ex for the money back. Whilst this helps in theory - in reality - if she doesn't have the money to pay the mortgage then she won't have the money to pay you.
If your ex has always worked and it really is just a temporary issue then she can continue to use her best endeavours to get you off the mortgage. This may take some time - maybe over a year.
I am sorry that this is not what you want to hear - but I have to be honest - basically any agreements you reach does not bind the mortgage company and unless they are willing to remove you - the only sure fire way to have your house off the mortgage is if the house was sold.
Kind Regards
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