House ownership

[Toureman]

A female friend of mine, 68 years old, Wants to sell her house.

She is still working to pay the mortgage for her house but can no longer afford it.

In 1992 she divorced her husband but the house ownership details were never sorted out, it is at least 5 years since she has had any contact with her ex husband who is joint owner of the house.

Her solicitor tried for about 2 years to trace her ex husband but could not make contact.

What is the next step she can make to resolve this situation?

[Golden Shred]

The only way the property can be sold (other than repossession by the mortgage lender) is to apply to a court for an Order to sell with directions as to division of the proceeds after mortgage, selling and legal costs have been paid. She will have to prove that every possible effort has been made to find the ex, which can be a pain. She will receive only half of proceeds, the court will say what must happen to the ex's half.

[derryman]

Herself and her husband are still legally the owners of the property. She could try for a transfer of Equity which gives ownership from joint to sole name on the property, but this would require Mr's signature.
She could ask the lender for a quote for an interest only mortgage, but she would need to let them know over time of how she intends to pay off the remaining term of the mortgage, i.e through Endowment, or ISA's.
Other than that she should think about selling otherwise the lender will apply for a warrant (this usually when there are arrears of over 2 months otherwise the judge will through it out of court) for repossession.