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Legal Forums » De facto Relationships - Forum » Bank Used Sale Proceeds to Clear ex Husband's Loan
Started Nov 16 2012, 01:48
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Nov 16 2012, 01:48
My partner purchased a home in 2001. At the time her husband had just left her, and she had just had a child so she did not have a satisfactory income history for the home loan. As her husband had an employment history his name was added to the contract and loan documents. Over the following 10 years he did not contribute to the mortgage, or any child maintenance or custody. My partner worked 60 hours per week in professional employment to cover the mortgage and raise the children (her then 13 year old daughter had to contribute heavily to raising the new infant).
In the mid 2000's the ex husband purchased a fast food franchise, and because his name was on the mortgage the house was used as security for his business lending, although they were legally separated. He subsequently fell into arrears on his loan. They finally divorced 2 years ago (delayed by international paperwork). In 2011 my partner had to pay for expensive back surgery for her eldest son and was forced to sell the house. When she sold the house the bank took $290,000 of the sale proceeds and used it to completely clear the ex husband's loans. Even the $50,000 she inherited from her mother is gone.
After contributing nothing to the mortgage, paying no maintenance, and having no part in his childrens' lives, the ex husband now lives like a king while my partner has next to nothing. She couldn't even scrape up a deposit and had to take out mortgage insurance to purchase a very humble old house on a major road. She has reverted to working 60 hours a week to try to start over.
It seems so terribly wrong. Does she have any right to claim any compensation from the bank or the ex husband?
ID#12565671
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