Hi Brendan
In this scenario if Boomer is able to have the mortgage transferred into his wife's sole name (why would they as she has no other income than SW i.e. surely it is better for the bank to have 2 on the mortgage in case one defaults) would this not be seen as evasion of having to pay one's debt i.e. judgement cant be made against the property.
Is this scenario transferring of assets commonplace? His home appears not to be in negative equity. Lets assume home prices slightly rise and Boomer gains employment should this 100K simply be written off? He would come out of this an awful lot better than most.
You should sell it yourself. It will be quicker and you will convert your secured debt into an unsecured debt. After that, it's likely that KBC will be less interested in it.
You should pay the rent on the property to the lender on the property, KBC. otherwise it's strategic default.
Brendan
Hi Brendan
In this scenario if Boomer is able to have the mortgage transferred into his wife's sole name (why would they as she has no other income than SW i.e. .
Yes my home isnt in negative equity thank god, ptsb want me to take a split mortgage after 6 months have passed, i have 30 days or less to decide on this. have to see my accountant on this you guys any thoughts on this aor should i start a new tread?
i think they want me to give up my tracker on the larger amount as theres no mention of me keeping it on the split mortgage offer wonder if they are trying to pull a fast one?
Could someone please answer my questions as i feel iam talking to myslef thankyou.
Sorry no i havnt been to a PIA or a practitioner brendan,Why did you not agree to sell it and go for a PIA?
Have you been to an insolvency practitioner for advice?
While you are on social welfare, it is a good time to go for a deal.
Brendan
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