Situation is couple signed a joined mortgage house valued 300k, couple have since split up with the house valued at 200k leaving say negative equity of 100k.
Any advice on what can be done, one party is still living in the property willing to meet half the repayments the other party will not meet there half of the payment even do they have money to meet there half of the repayments.
What can the person who is living in the house do? the other party wont even discuss the situation with them and just wants there name taken off the joint mortgage.
The person still in the house isnt willing to take on the negative equity owed by the other person who signed jointly on the nortgage.
Should they just contact the bank tell them they are willing to pay there half of the payment and that the other person has (list there assests) so they know they can meet the repayments and advise the bank to chase them up for the other half of the payments.