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    james dale's Avatar
    james dale Posts: 15, Reputation: 1
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    #1

    Apr 27, 2013, 01:37 AM
    Am I liable for the mortgage debt?
    1st time buyer property bought on a joint mortgage.

    House sold at a similar time of marital split but the joint mortgage was (stupidly!) ported to the new property with an additional mortgage loan obtained to make the purchase.

    Sole ownership on new property deeds and new loan.

    The new property has recently been abandoned, repossessed and sold leaving an outstanding debt on 2+ loans of approx. 80k, one of which is the ported mortgage which I am still party to.

    I am now being chased for the debt having only temporarily lived there and never been an owner or on the deeds.

    What can I do?

    James
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,277, Reputation: 7690
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    #2

    Apr 27, 2013, 06:18 AM
    If you were on loan for the new location, you owe the debt, does not matter if you lived there, it is also your debt
    ScottGem's Avatar
    ScottGem Posts: 64,970, Reputation: 6056
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    #3

    Apr 27, 2013, 09:22 AM
    If you signed for a loan and that loan remains in affect, even if the property changed hands, you could continue to be liable for the loan.
    james dale's Avatar
    james dale Posts: 15, Reputation: 1
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    #4

    May 1, 2013, 08:38 AM
    Quote Originally Posted by Fr_Chuck View Post
    if you were on loan for the new location, you owe the debt, does not matter if you lived there, it is also your debt
    Thank you.

    If I did not sign for the mortgage to be ported, do I have an argument?

    What if I refuse to pay?
    james dale's Avatar
    james dale Posts: 15, Reputation: 1
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    #5

    May 1, 2013, 08:48 AM
    Quote Originally Posted by ScottGem View Post
    If you signed for a loan and that loan remains in affect, even if the property changed hands, you could continue to be liable for the loan.
    Your answer is non-commital. 'Could' does not help. The world 'could' end tomorrow.

    Thanks for trying to help.
    Curlyben's Avatar
    Curlyben Posts: 18,465, Reputation: 1857
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    #6

    May 1, 2013, 08:54 AM
    Unfortunately, you are jointly liable for the mortgage.
    It could be argued that you are not liable for the additional funding, as you didn't agree to the porting.

    Who is chasing for the outstanding balance and was there any agreement made concerning this under the marriage dissolution?
    ScottGem's Avatar
    ScottGem Posts: 64,970, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #7

    May 1, 2013, 09:36 AM
    Quote Originally Posted by james dale View Post
    Your answer is non-commital. 'Could' does not help. The world 'could' end tomorrow.

    Thanks for trying to help.
    I'm sorry, but you gave us very little information yet you expect us to respond with a positive answer. As long as the loan is in effect and you signed for the loan you are responsible for that loan. Given the extenuating circumstances, a court might rule that you aren't. No one can predict what a court will do without having all the facts.But its unlikely you wouldn't be held responsible..
    james dale's Avatar
    james dale Posts: 15, Reputation: 1
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    #8

    May 2, 2013, 01:35 AM
    Thank you.
    What further information do you require?
    james dale's Avatar
    james dale Posts: 15, Reputation: 1
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    #9

    May 2, 2013, 01:40 AM
    Quote Originally Posted by Curlyben View Post
    Unfortunately, you are jointly liable for the mortgage.
    It could be argued that you are not liable for the additional funding, as you didn't agree to the porting.

    Who is chasing for the outstanding balance and was there any agreement made concerning this under the marriage dissolution ??
    The original mortgage company is chasing. I DID sign the documents for Property1 but after the mortgage was ported, I do not recall signing any thing to authorise this. It was an amicable split with my ex taking on a new property and furniture and I received a pay out (1/2 the equity). I am now liable for the full debt (of the original loan it seems! )

    Many thanks for your help.
    Curlyben's Avatar
    Curlyben Posts: 18,465, Reputation: 1857
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    #10

    May 2, 2013, 01:44 AM
    Unfortunately, unless your ex can be tracked down, you are the only person they can find to demand payment from.
    If you have any idea where she might be, you will need to make representation to the creditor yourself.
    National Debtline may well be able to give to more focused assistance as mortgage debt is not my ball park.
    james dale's Avatar
    james dale Posts: 15, Reputation: 1
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    #11

    May 2, 2013, 12:29 PM
    She has left the country and got married! Ha!

    Thank you.

    Looks like I really am screwed!

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