sillychick82 Posted August 13, 2008 Share Posted August 13, 2008 In the process of getting a divorce and have lots of questions about the house. I want to try to keep it and buy him out , but I am a waitress so on paper it looks like I don't make enough money. With the market the way it is I don't think we will get what we owe on the house if we try to sell it. Although that is an option. I am just looking for other ideas. Maybe someone here has delt with it before. I would even be fine if he bought me out of the house, I just want the kids to stay here because of school. friends and sports. But he doesn't want it. Link to post Share on other sites
GreenEyedLady Posted August 13, 2008 Share Posted August 13, 2008 In the process of getting a divorce and have lots of questions about the house. I want to try to keep it and buy him out , but I am a waitress so on paper it looks like I don't make enough money. With the market the way it is I don't think we will get what we owe on the house if we try to sell it. Although that is an option. I am just looking for other ideas. Maybe someone here has delt with it before. I would even be fine if he bought me out of the house, I just want the kids to stay here because of school. friends and sports. But he doesn't want it. Why can't you refinance it? Or just leave his name on the house and put in a stipulation that when the house is sold he will get his portion of it? Would he be ok with that? You could short sell it but that's not always the best thing to do, too. Link to post Share on other sites
hot123 Posted August 13, 2008 Share Posted August 13, 2008 My ex husband signed off on the interest but is still on the house w/me...i make the payments and also gave him first rights of refusal if i ever decide to sell... Link to post Share on other sites
base618 Posted August 13, 2008 Share Posted August 13, 2008 Instead of a refinance, I was able to go through a 'Loan Assumption' which legally takes someone's name off of a mortgage and the deed. It was less expensive, and the terms of the original mortgage are still in effect. I don't think every mortgage company offers it, and it took me more than one attempt to get Chase to admit that they do it. Good news is, I bought my ex's 25,000 investment for 4,500. Hope her cheating was worth 21,500 to her Link to post Share on other sites
Mr. Lucky Posted August 14, 2008 Share Posted August 14, 2008 In the process of getting a divorce and have lots of questions about the house. I want to try to keep it and buy him out , but I am a waitress so on paper it looks like I don't make enough money. With the market the way it is I don't think we will get what we owe on the house if we try to sell it. Although that is an option. I am just looking for other ideas. Maybe someone here has delt with it before. I would even be fine if he bought me out of the house, I just want the kids to stay here because of school. friends and sports. But he doesn't want it. Well, the days of sub-prime mortgages are over. Someone in your situation 2 years ago could have gone stated income but not any more. Why not require in the divorce settlement that he stay on the loan, perhaps in lieu of some child support? These crazy economic times require a creative approach and it might work for both of you. Something to think about. The obvious other point is that you might want to just take your lumps all at once - marriage, finances, house, etc. - and get a clean start. At least you'd have it all behind you... Mr. Lucky Link to post Share on other sites
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