[ Post New Message | Post Reply to this One | Send Private Email to Margaret Vaughan | Help ]

Will my house be repossessed?

from Margaret Vaughan (margaret.vaughan@wspgroup.com)
My husband & I separated over 2 years ago and agreed to pay half the mortgage each until the financial side was sorted out. Due to his stalling it has taken 2 years and now we have been ordered to sell our house and split the equity. Due to his dissatisfaction with his settlement he now is not paying any of the mortgage. I cannot afford to pay all the mortgage & the arrears are now £300. Alliance & Leicester have agreed to let me pay half the mortgage until January when the situation will be "reviewed". The house is on the market but due to the economic climate it has not sold yet. Can A&L re-possess if I am still paying my half (and more when I can) and how long do you think it will take? If they re-possess do they put it on the market for a much lower value and then just take the o/s mortgage? If so, I won't be able to afford to buy again. I don't know anyone who's had a house repossessed so don't know what will happen.
(posted 8185 days ago)

[ Previous | Next ]