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Am I liable to pay for a shortfall debt on a reprocessed house?


Me and my ex had a house together that he has had reprocessed. I have not lived at the address since 2012 but my ex never took my name of the mortgage. One thing has lead to another and he told me the house was being reprocessed. The house is up for sale at the moment with a shortfall of £10000. Am I liable for this or does it all fall on my ex. I have had no interaction with the mortgage company or court about the property.

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Re: Am I liable to pay for a shortfall debt on a reprocessed ...

If the result of a repossession is that an amount of money is left to pay then the mortgage lender will ask for payment from the people who are documented as liable for the debt. In the case of a joint mortgage the bill will be to each person for the full amount of the debt remaining as each person is liable for all of the debt. If you think this is incorrect and that you are not liable for all, or any of the debt, then you may need to check with a solicitor and check the terms of the mortgage that was agreed. If you do find that you have a debt to pay and it is unmanageable, or makes it difficult to meet other commitments, then it would be worth contacting a free debt adviser to understand the options that may be available to you.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you need further help, Debt Advice Foundation provides a free, confidential helpline and can advise you. Click here to find out more.

 

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