My friend is nearly divorced and financial stuff done in court. Court ordered sale of fmh and my friend agreed that his ex could change mortgage to interest only. This was all written on court order. House is now on the market. My friends ex pays mortgage and has done for last 3 years as she lives in property while my friend rents.
My friend has just received a letter from mortgage company regarding mortgage payments. It appears his ex has contacted mortgage company and made an arrangement to pay with them - the monthly payments dont even cover the interest on the mortgage. Is there anything my friend can do as debt is building up on the mortgage because of this which affects his credit rating and equity. Court order clearly states his ex should be paying the interest ie switch mortgage to interest only until property sold. My friend contributing towards mortgage is not an option - his rental payments are more than the repayment mortgage was and he is struggling as it is financially.
My friend has just received a letter from mortgage company regarding mortgage payments. It appears his ex has contacted mortgage company and made an arrangement to pay with them - the monthly payments dont even cover the interest on the mortgage. Is there anything my friend can do as debt is building up on the mortgage because of this which affects his credit rating and equity. Court order clearly states his ex should be paying the interest ie switch mortgage to interest only until property sold. My friend contributing towards mortgage is not an option - his rental payments are more than the repayment mortgage was and he is struggling as it is financially.