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Joint Housing Loan: The other party stops paying and I can't afford to pay the full monthly payment

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asked on Jan 31, 2020 at 20:42
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edited on Aug 1, 2020 at 18:23
 
I bought a house in joint loan ownership with my sister. We decide to split the payments 50/50. Pass 6 months, she stops paying the mortgage and expects me to pay the full amount. I'm not able settle the full payment each month as I have other commitment as well. I even checked with my lawyer on this issue but no result. Could you please advise me what is the next cause of action. I don't want to end up with Bank Negara Malaysia (BNM) blacklist. Is there any chance to clear my name?

I'm seriously lost here. She is ignoring my calls and also the bank calls. My lawyer doesn't want to involve in this too.

Can please suggest me what can I do next...
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4 Answers

answered on Feb 1, 2020 at 16:13
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edited Aug 1, 2020 at 18:24
 
Can please suggest me what can I do next...

You can try to withdraw from EPF to clear the installments.
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answered on Feb 3, 2020 at 17:16
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edited Aug 1, 2020 at 18:44
 
I have enough money to pay my due but it is a joint loan, I meant the house is under the name of both of us. I'm able to pay my 50%. Its just her 50% pending every month. Its okay for me to do the full payment every month if it is not a joint ownership. Because if the bank put a remark to my case, I'm not able to buy another house.

I just want to check if there are ways to sale or refinance the house since the other party is not paying. 

What I can do to get legal advice or who is the best person to refer please?

I already checked with the bank and lawyer but they said couldn't do anything on this because it is a family issue.
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answered on Feb 4, 2020 at 00:22
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You have no choice but to pay full payment every month plus the outstanding amount.
If you keep on paying half, the bank will lelong your house for a very low price as the current property market is very soft.
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answered on Feb 4, 2020 at 00:23
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You also cannot sell the house unless she agree to sell.
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