House

PoppinPMAGs · 2022-12-18T01:46:54+00:00

Have it appraised. Take appraisal minus what you owe on it, and split that. She can add your half to a new mortgage in just her name and give you your half.

captainchippsixx · 2022-12-18T02:02:59+00:00

It usually doesn’t. Unless she can get money from family.

CaliDude75 · 2022-12-18T06:08:39+00:00

No kids, she got the house, but took over the mortgage. I honestly don’t know or care if her parents co-signed. All I know is she qualified for the refi, and I’m not on the hook for it anymore. 🤷🏻‍♂️

Gattsama · 2022-12-18T06:22:11+00:00

So the delay is 50/50 spilt of all assets & debts + alimony + child support. Child support can NOT be negotiated. But the 50/50 split and alimony can. Sometimes people use an unequal distribution in lieu of alimony (eg home equity, stocks, etc). The problem is that if your name us in the mortgage the only way to remove it is to get a new loan or sell the house.

So she would need to either refinance or get an assumption loan. Either way, it's a new loan that she has to apply for and be approved for. If she doesn't qualify, it's either sell the house or leave your name on the mortgage and all the risks that entails.

In my case I didn't want the house, she was due 50% of the equity which I don't have to just give her. She wanted the house but can't afford it. My 50% of the equity was about equal to her spousal support total payment (and I am going to pay her off in a lump sum), but even if I just waked away from the house the mortgage is $4800/mo and my name is on the loan. She can't afford that, let alone all the additional expenses to own the house. So we had to sell...

Dangerous_Item_6879 · 2022-12-18T16:02:06+00:00

They all want to keep the marital home. But none of them understand the financial situation.

Like others have said, unless she gives up alimony or has a family inheritance there is no way for her to afford the home.

Title	House
Author	No-Big7797
Upvotes	2
Comments	12
Date	December 18, 2022 1:38 AM UTC (3 years ago)
Subreddit	Posted in /r/Divorce_Men
Original Link	https://old.reddit.com/r/Divorce_Men/comments/zommhj/house/
Archive Link	https://theredarchive.com/r/Divorce_Men/house.1143495 https://theredarchive.com/post/1143495

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