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22 August 2011

My ex-partner needs to sign the mortgage over to me but we are in negative equity..Help!

Hi, My ex-partner needs to get her name off the mortgage so she will be entitled to housing benefit, We have a 2year old son, who will be going with her, she doesnt want me to leave and give the house to her as she wouldnt be able to afford it and doesnt want to live here. Our only income was what i earnt over the last 2 years as she has been bringing up our son. The bank says i cannot take over the mortgage as i dont earn enough and its in negative equity, yet i have been paying it with my income for the last 2 years!! The only other option i can see is reposession but surely this would make the bank worse off? as i wouldnt afford to rent somewhere and pay the debt off, (I would more than likely have to go bankrupt). Please help. thanks chris

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