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2 Bumps

Divorce - if i can't afford to keep the house...

should i just let him have it? take my name off of it? tell him he can keep the house if he takes all the debt? what do i do?

Answer Question
 
Anonymous

Asked by Anonymous at 8:04 PM on Mar. 25, 2013 in Money & Work

Answers (18)
  • Can he afford it? Sell it and split the asset.
    Anonymous

    Answer by Anonymous at 8:10 PM on Mar. 25, 2013

  • Sell it. Split what you get out of it. That is what I would want to do.
    Or if you can get your name off it. And if he is willing to take on the debt. Let him have it.
    louise2

    Answer by louise2 at 8:10 PM on Mar. 25, 2013

  • If he takes all the debt for keeping the house..depending on your debt that could be a great deal for you. However, if your home is worth a lot and you don't have much money sell it and split the money.
    GrnEyedGrandma

    Answer by GrnEyedGrandma at 8:11 PM on Mar. 25, 2013

  • How much is it worth? How much do you have in debt? How much money do you make? How many kids will he have to pay CS for, or are you giving him custody? Too much to figure out from your post alone.
    jerseydiva

    Answer by jerseydiva at 8:11 PM on Mar. 25, 2013

  • ugh..I meant to say if you don't have much debt, not money.
    GrnEyedGrandma

    Answer by GrnEyedGrandma at 8:12 PM on Mar. 25, 2013

  • Depends on the debt. You can make an agreement that when the house is sold the equity that is in the house now ( put this amount in writing) will be split. If there isn't much equity, I'd let him have it and the debt.
    RyansMom001

    Answer by RyansMom001 at 8:16 PM on Mar. 25, 2013

  • 50/50
    older

    Answer by older at 8:34 PM on Mar. 25, 2013

  • we have about 4k in my dental bills. he'll have a ton from student loans but they aren't up yet. we have a few other minor bills but nothing major.

    i cannot afford to pay the mortgage - he can. they kids will need a home for when my ex has them. i am more concerned with their stability than money if that makes sense.

    i plan to go home to family & start over.
    Anonymous

    Comment by Anonymous (original poster) at 9:13 PM on Mar. 25, 2013

  • Well then. Take your name off and give him the house.
    louise2

    Answer by louise2 at 9:32 PM on Mar. 25, 2013

  • Do you have a lawyer? Sit down with your lawyer and access the situation - whether or not you have equity in the house, who can afford to keep it, how difficult would if be to take your or his name off it, do you still owe anything on the house? State laws vary so if you still have a mortgage in both names it can be impossible to remove one name from the loan. Also how is the real estate market in your area so if you or he decides to sell it you can anticipate how long it might be on the market.
    HHx5

    Answer by HHx5 at 9:45 PM on Mar. 25, 2013

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