Asking for others thoughts who have been through similar thing. This is for my best friend not me.
Married 24yrs, 5 children (2 under 11 yrs old)
They have mortgage on home of $150K, value of home is $430K at best.
She has been stay at home mum for entire marriage, he's the bread winner by approx $70K p/year with his own small business.
They split April 2019, he left home, same day blocked her from all bank accounts etc (so any access to money)
He had huge fight with next door neighbor same day as leaving and lost his lid and became VERY scary.
Due to all this and a bit more, she was granted a DV order in May 2019 which is still in place and still in the courts.
He initiated Family Law court proceedings in Oct 2019 for property settlement (not once did he ask for access to his kids and had not seen them since leaving home back in April)
First court date was Nov 2019, sadly judge suggested to him to pay mortgage but did not order it but to this day he has not paid a cent.
However judge ordered he get visitation with kids every 2nd weekend, even though father did not even ask for it.
Wife is living off benefits and due to being out of work force for decades, struggling to find work and can not afford mortgage, so no payments have been paid since he left in April 2019.
As expected, in mid Jan 2020 bank finally sent letter though of pending foreclosure.
My question is, I am very concerned with the advice her solicitor is giving about the house and wanted others thoughts.
He has told her from day dot (April 2019), just get a casual job so you are earning something, do this for 3 to 6 months then apply to refinance the home to take over the mortgage and pay him out.
Now we are 10 months later, bank is foreclosing and he is now telling her to not stress, just keep trying to get a job of some kind, do it for 1 month and then proceed as I stated above.
I know so many people who have huge deposits, very good incomes and are being rejected for mortgages so I just don't see how on earth a bank would give her one, especially now with the foreclosure, no payments for so long etc.
The arrears on mortgage at present date is nearing $9K plus the rates are now 2 lots behind as well.
She has confirmed that she is already listed as bad with her credit rating, this only happened in last 3 weeks and again, I would suspect no bank would give her a mortgage refinance with this bad credit rating now.
I just feel she is being fed BS by this solicitor and getting her hopes up for nothing.
The other thing is, I have spoken to many people about the foreclosure issue and people who have been through it recently and the longest time I found from first letter to "get out" was 90 days and this solicitor is telling her is will take the bank about 6 to 12 months to take it all through court etc, so again, don't stress, you won't be homeless.
The ex is doing everything and anything he can to be nasty and his hate for the ex wife is much stronger than doing anything nice to help keep things good for his young girls etc.
20 yrs ago he sat in my patio with me after they had huge fight and told me that if they ever split he would make sure she never got a cent/anything from him and here we are 20+ yrs later and he is doing exactly that.
Thanks for any input anybody gives, I really need some others thoughts on this cause I'm trying to get her to listen and prepare to leave the home behind etc.
Married 24yrs, 5 children (2 under 11 yrs old)
They have mortgage on home of $150K, value of home is $430K at best.
She has been stay at home mum for entire marriage, he's the bread winner by approx $70K p/year with his own small business.
They split April 2019, he left home, same day blocked her from all bank accounts etc (so any access to money)
He had huge fight with next door neighbor same day as leaving and lost his lid and became VERY scary.
Due to all this and a bit more, she was granted a DV order in May 2019 which is still in place and still in the courts.
He initiated Family Law court proceedings in Oct 2019 for property settlement (not once did he ask for access to his kids and had not seen them since leaving home back in April)
First court date was Nov 2019, sadly judge suggested to him to pay mortgage but did not order it but to this day he has not paid a cent.
However judge ordered he get visitation with kids every 2nd weekend, even though father did not even ask for it.
Wife is living off benefits and due to being out of work force for decades, struggling to find work and can not afford mortgage, so no payments have been paid since he left in April 2019.
As expected, in mid Jan 2020 bank finally sent letter though of pending foreclosure.
My question is, I am very concerned with the advice her solicitor is giving about the house and wanted others thoughts.
He has told her from day dot (April 2019), just get a casual job so you are earning something, do this for 3 to 6 months then apply to refinance the home to take over the mortgage and pay him out.
Now we are 10 months later, bank is foreclosing and he is now telling her to not stress, just keep trying to get a job of some kind, do it for 1 month and then proceed as I stated above.
I know so many people who have huge deposits, very good incomes and are being rejected for mortgages so I just don't see how on earth a bank would give her one, especially now with the foreclosure, no payments for so long etc.
The arrears on mortgage at present date is nearing $9K plus the rates are now 2 lots behind as well.
She has confirmed that she is already listed as bad with her credit rating, this only happened in last 3 weeks and again, I would suspect no bank would give her a mortgage refinance with this bad credit rating now.
I just feel she is being fed BS by this solicitor and getting her hopes up for nothing.
The other thing is, I have spoken to many people about the foreclosure issue and people who have been through it recently and the longest time I found from first letter to "get out" was 90 days and this solicitor is telling her is will take the bank about 6 to 12 months to take it all through court etc, so again, don't stress, you won't be homeless.
The ex is doing everything and anything he can to be nasty and his hate for the ex wife is much stronger than doing anything nice to help keep things good for his young girls etc.
20 yrs ago he sat in my patio with me after they had huge fight and told me that if they ever split he would make sure she never got a cent/anything from him and here we are 20+ yrs later and he is doing exactly that.
Thanks for any input anybody gives, I really need some others thoughts on this cause I'm trying to get her to listen and prepare to leave the home behind etc.
