I currently own a house which is 50% - 50% share with my Ex for both Loan n S&P

Also, my Ex does not seems like tends to sell the house as I not sure what kind of trick is he playing. I have ask few salesman helps to sell off the house dy but now the market is so low and seems hardly get buyer...

no one is occupying the house and it is a new property....

And, I am not really affordable to pay for the house anymore as every month need to pay around 1800myr each person... so I wonder, if I refuse to make the payment, will bank lelong my house?


If yes, what is the impact on myself? I will be sue bankruptcy?
If being sue bankruptcy, again, what is the impact??

Hope that someone could help me on this!!!
Thanks!!!!

this must call bear bear wong ....

as long your debt not more than 30k, than no bacrupt

Since both of you also borrowers for the loan, if you refuse to pay and your ex couldn't afford to pay RM3600 for the next few months, your bank will lelong your house. As you mention your house could hardly get buyer on the free market, I am afraid that the bank auction would fetch very low price to pay back to the bank. With the outstanding loan after the auction plus all the fees the bank gonna charge, I don't think you can afford to settle that since you can't even afford RM1800 now. In that case, you will be sued to bankruptcy unless you could convince AKPK to help you negotiate with the bank. Impact of bankruptcy? I don't think you really want to go down this path.

If the bank auction off your house then the proceeds of the auction will be used to pay off your loan.
If it is enough to cover the loan then no issue with bankruptcy.
If it is not enough then you have to fork out the difference or may face bankruptcy depending on the amount outstanding.
The market is good now for property so I don't see how the proceeds of the auction will not cover your loan.
If the property market collapses then you may have a problem.

sorry to hear that, either u should buy the remaining 50% or sell the remaining 50% to him.

If it comes to auction, both of you will file bankruptcy and the impacts are serious like u cannot travel apart from Malaysia and own any properties until u have dissolve the bankruptcy.

Suggest you go talk to him.

depends on how much you owe the bank, and how much it sell.

if lelong can recover the debt, then no bankruptcy.

You have asked few agents to sell but your ex doesn't seem like wanna sell it?
Then even if you manage to get a purchaser but if your ex doesn't want to sign then it's useless too.

You should really discuss with your ex on the next move to sort things out. Being stubborn and make things worse isn't going to benefit anyone.

Good luck!!

im sure u got some problem with ur ex that y make u sell the house, the best thing sell the house to ur ex or take over ur ex part. sure u try it before...
the worse lelong it the different u have to top up, if dun hv that kind of $$ try akpk

Don't wait for the court to issue you the summon. I'm basing this on your property already having been issued a title. But I'm afraid if you've already defaulted on your loan for several months, you will already have difficulty securing another loan should you need one. Something to do with citos or whatever system the banks have now to track defaulters.

If you have been summoned to attend a court hearing, please turn up & plead your case. The court will not cancel the case but you will given a longer period between the hearing & the actual auction date. Otherwise, the court may just set it a month after you fail to turn up. If your property is sold during the auction, as per comment above, the proceeds from the auction (final price sold) minus all expenses incurred by the bank in the auction (lawyer, court, auctioneer etc costs) will be deducted against your total outstanding amount of your loan. If it exceeds 30k, the bank will sue you for bankruptcy should you fail to settle the balance.

I'm afraid there's not much good news if your property has not been issued with a title. The bank will still proceed to auction your property albeit at a much faster rate. They can literally set an auction date every month until sold whereas with court auction, you may have reprieve of at least 4-6 months between auctions.

If you wanna know more, do PM me.

The monthly installment is rm3.6k not the loan amount..The debt is the loan amount.. this case if tenure 30 years the debt is around rm700k.. so now can bankrupt ?

try to sell your property here... many rich man here.

Why does the bank lend to joint borrowers who are not related. Can you give some details on your property as in location and asking price. Judging from the 3600, your loan amount is around 650k.

lol how you get an ex husband? when going divorce never settle matrimonial property issue?

which state you stay? hardly seen the court not asking for matrimonial home divison unless you have agree before hand both of you..

half share is very infamous... no one will buy the other half... ask ur Ex buy or you buy ur ex's one then resell..

lelong, sure low price... before lelong that depends, some can straight lelong without bankrupt, some need to bankrupt only lelong..

either way depends on how much loans remaining... is jsut started and bought an inflated ones sure no valuation, if service long enough then no worries, if not selling too high as auction sure got buyers to help pay off loans..

problem is too many property around... so competitive

what if the property got sold more than the balance of loan, charges etc?

who take the profit?

split evenly back to the respective owners.. if any

Foreclosure related matter need Bear Bear Wong as he is specialist in this, summoned @bearbearwong.

Your advice needed.

Anyway TS has you consider sell at slight lower price ? Maybe your asking price been slight over enthusiast ?

I wonder where is this place? 3,600 per month must be a nice place

Rm700k of course CERTAINLY can get you bankrupt.

But if you have tones of $$$, get a good professional lawyer and the winning percentage is high.

Yup, a person who has tonnes of $$$ have too much time on their hand & are just against authority.

Well, first lelong will usually be market price at the time of valuation. Assuming the market price didn't increase by the time of the auction, and assuming there are bidders who are interested in a market value auction property, then the defendants (owners) liability after deducting all cost will be not so substantial.

However if the property is very attractive to buyer (but I don't think so as owner struggles to sell it off with sub sale), then it may spark a bidding war with final selling price that absolve owner from paying or maybe get a little profit.

But my advise is still is, don't wait for the lawyer's and/or court summons to appear.