What happens if sale order is given?

They have told me they are willing to let me capitalise on the arrears but need his approval which he will not give.
 
I think it's time to cut your losses, all I can see is a judge ordering the sale and after that the bank going for an instalment order on both of you.

You mentioned UK, you might as well save up ALL your current and future mortgage payments to smooth the way there. You've no kids so it's easier for you than most.

If your ex has means and thinks he'll win with the bank and he intends to stay in Ireland, he's on for a rude awakening. The bank must think either he or you both are a mark.

Can you clarify what it is exactly your solicitor has said you could win in court?
 
So the judge won't consider making me and my toddler homeless?? Or the fact I have been paying for all these years? That really is the worst outcome for me :(

Do you think I should stop payments completely? The hearing is in January and that would be some saving for me considering I pay 1100 p/m.

He is not a very clever person, he does not realise he can be stuck with debt. He is even looking for 'financial compensation' on his divorce papers.

The bank know all of my financial details, I have told them honestly in a financial statement last month... not sure what they think of his as he won't talk to them. He has only a car as an asset and lives off his girlfriend. He has savings locked into a CU loan which he took out to pay for legal fees. I have same. There is nothing else as far as I know unless he lied on his statement which is of course very possible.
 
Just realised I never mentioned I have a child, we have none together but have one each separately. I am single though.
 
Why would he want to force the sale of the house? As soon as he does that, he becomes liable for half the negative equity. If he just gets his name off the mortgage, he can walk away scot free.
 
Seagull, I know that, you know that and I am sure most educated animals know that.
My ex is completely illogical, non sensical and spitefull. His options are :
A) take name off deeds, walk away with NO debt and wait a while till bank agree to take his name off mortgage
B) sell house, be liable for arrears/negative equity/costs.
He is choosing the latter to spite me.
 
Just a very quick update on this. I met with the bank and it was a very positive meeting. I have also had the court hearing which my ex decided to not show up at which irritated the judge so in a nutshell, I have kept my home! Granted there are many other things that were dealt with and have to be dealt with but a removal of his name from title deeds was one thing and an order for myself to be solely able to liaise with the bank until such time as I am able to remove my ex from the mortgage. Just wanted to post what I personally perceive to be a very positive outcome and I am grateful for any information and advice received in recent months :)
 
Hope2divorce said:
Just a very quick update on this. I met with the bank and it was a very positive meeting. I have also had the court hearing which my ex decided to not show up at which irritated the judge so in a nutshell, I have kept my home! Granted there are many other things that were dealt with and have to be dealt with but a removal of his name from title deeds was one thing and an order for myself to be solely able to liaise with the bank until such time as I am able to remove my ex from the mortgage. Just wanted to post what I personally perceive to be a very positive outcome and I am grateful for any information and advice received in recent months :)
Click to expand...

This is marvellous news Hope2divorce. Thank you so much for coming back to us as one does wonder sometimes if we are giving the right advice and it's good to know you had some help from AAM.

Can you clarify something. The bank have now agreed that you take over the mortgage, did they do that in writing and did you have that for the court date? Did that help your case. Did the judge then order your ex's removal from the title deeds? It would be exceedingly helpful if you'd outline the steps to going into court that worked in your favour.

Also imporant information from you is that the banks are now willing to deal with you and indeed that you had a positive meeting. Did you have that meeting alone or with your solicitor?
 
Brilliant !!

I can understand your wish to get him removed from the title deeds.

Why are you so keen to get him removed from the mortgage also. If you do that he just walks free from the negative equity which he is jointly responsible for. It doesn't stop you from making the payments yourself even if his name remains on the loan.Getting him removed from the title deeds puts the ownership of the house in your name. If he remains on the mortgage there might be a chance to still recoup some money from him in relation to the loan, somewhere down the road ?

By releasing him from the mortgage, you are setting him free from his debts.
 
Bronte, the bank just gave me verbal instruction as to how things can proceed once his name was off the title deeds. They outlined and advised the best course of action going forward (capitalising the arrears and then obviously any extra I am paying per month comes off the total mortgage loan rather than hitting the sides of the interest on the arrears) and of course the sooner all that happens, the sooner I can start looking at getting a mortgage alone and/or removing his name from the mortgage in the future (not this year or next by any means) as the loan amount decreases. I went in armed with all of this information and letters from my employers to say I have a permanent job which is not going to be lost anytime soon, proof of all my prior bank payments and basically my solicitor outlined how much debt we would be in jointly if a sale was ordered. The judge then granted me what I was looking for which was to remove his name from the deeds plus ordered for him to either cooperate with the bank in full or to waive his right to deal with the bank. He chose the latter. I had the meeting alone but the bank manager was very helpful and actually took a phonecall from my solicitor too and outlined everything that had been said to myself.
 
Importer said:
Brilliant !!

I can understand your wish to get him removed from the title deeds.

Why are you so keen to get him removed from the mortgage also. If you do that he just walks free from the negative equity which he is jointly responsible for. It doesn't stop you from making the payments yourself even if his name remains on the loan.Getting him removed from the title deeds puts the ownership of the house in your name. If he remains on the mortgage there might be a chance to still recoup some money from him in relation to the loan, somewhere down the road ?

By releasing him from the mortgage, you are setting him free from his debts.
Click to expand...

Part of the agreement is that I try my best to remove his name from the actual mortgage too which is fair enough as I am now the owner of the home (or will be when mortgage is fully discharged!) It will be some years before this goes ahead so perhaps it won't be in as much neg equity by then but either way I have no intention to sell. I was fighting to get the house because it really is my home and not just a step till I find something bigger or better :)
 
You must log in or register to reply here.
Back
Top