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estateagent, John Haughton, karan, mynewhme, Parmdeep Vadesha, Paul Holman, redfox, Richard Shepherd, Sarah-Marie, Sunny, Titi Olagoroye, Tunde Isabor Most users ever online was 978, 27-01-2009 at 05:26 PM. |  | | Notices | |
“Underground Investors Summit”
June 16th & 17th,
2012
The Big Property Giveaway!
Followed by Parmdeep Vadesha’s
Farewell Party |  | Here’s some of the great
giveaways already lined up: - Contacts -
Meet investors, JV partners and other valuable contacts.
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I’ve spent the past month pulling together my documents,
agreements, videos and audios that I will be making
available as part of the giveaway.
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some of my mentors to come along and network during the
event.
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18-11-2007, 10:37 AM
|  |   | | | | Join Date: Oct 2007 Location: Manchester
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| |  Trying to help distressed mother !
I need some advice please.....
Received a lead from my leaflet campaign from a lady who has thrown her husband out of the house for infidelity and is already two months down on her Woolwich mortgage.
She works part time 10-3 and has two young children and is feeling quite understandably afraid.
Her husband is not contributing towards the mortgage at all since moving out.
The house is valued at £125k and she owes £95k and is interested in a sale and rent back deal with an option to buy back within five years.
Does anyone know how she can get her husband removed from the mortgage in order that I can pay off her arrears and help her get back on track?!
Any comments welcome.
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18-11-2007, 11:04 AM
| | |  | | | Join Date: Nov 2007 Location: North East
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Hi Craig911,
I think it is going to be a bit more complicated than you expect. Husband may want some share of the equity that is left in the property. The easiest option here is for you to buy the house from both of them and give her a seperate agreement for a buy-back option within the 5years. The difficulty that i see is husband will have to agree to comming off the mortgage and if he is going to agree then he may as well agree to selling to you. However these situations have alot of complications from husband and wife side.
Maybe some other veterans will be able to give some more advice.
Derek | |
18-11-2007, 03:11 PM
| | | | | | Join Date: Jul 2007 Location: Milton Keynes
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He will have to agree to the sale, there is no way around this, unless he has been sectioned under the Mental Health Act.
Offer a PP of 100k, 5k above redemption.
The 5k goes to him for agreeing.
If it gets repossessed he will get nothing apart from a debt.
This way everyone wins.
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