question category: Repossession

Can i stay in my house (i can afford morgage but cant proove earnings)?
Submitted on: 17th Nov 2010 by Non-Member | Total Answers: 1

My wife and i are splitting up. We own two properties and have never defaulted on any payments on either. We have worked out a dividing scenario. I am self employed but cant really proove much of my earnings. I can with help from relatives pay my morgage easily. The helpers have low monthly income but have assets worth twice what my morgage would be, Can they insist that i cant pay the morgage even if my helpers are in such poition to bail me out?
Help i am desperate

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Re: Can i stay in my house (i can afford morgage but cant ...

Each mortgage company will have different conditions under which they will allow a mortgage to be changed from joint to single names. Speak to your mortgage company and find out what their procedure is and whether they re-assess your income. If they do re-assess your income and find it is too low, it might be possible for your relatives to become guarantors to your mortgage.

This question has been answered by Christians Against Poverty, a leading debt charity offering hope and a solution to anyone in debt.

Submitted on: 23rd Nov 2010 by TA Member

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