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#530585 - 07/06/09 06:30 PM Refinancing & Equity
LawDad Offline

recently joined

Registered: 07/06/09
Posts: 3
My wife and I have a house that has about 117K in equity, I want to refinance to obtain my half of the equity to roll into another house, right now, I'm living with a relative, but this has been going on now for 5 months and I'm ready to move on, I am willing to take only half of my equity, which is about 30K and I was willing to leave the rest and have it put in the decree that I would get that at a later date, just so her note won't change much, now keep in mind that she makes 85K a year, two and a half times more than me, she can afford it if the note goes up a little, I was just trying to be nice about all this, so far we have been getting along great, no squabbles, no nothing, we're actually getting along better and we've agreed that I would get half the savings upon a settlement that is due from a insurance agency and it should net at least 50K maybe more, so this has been agreed upon and that's basically in the books, but this refinancing thing may be a glitch, I won't sign a quit claim deed and I will either....A-refinance, obtain equity....B-sale the house or C-move back in....LOL, she'd love that, those seem to be my choices. Any feedback or advice is appreciated. I have two mortgage people on this, market is good for refinancing and me buying a house cheap, to me.....everyone wins, but she's not about doing anything with common sense or easy, so I'm prepared for all my options and we'll see

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#530586 - 07/08/09 11:45 AM Re: Refinancing & Equity [Re: LawDad]
LawDad Offline

recently joined

Registered: 07/06/09
Posts: 3
Also.....what are my options if she don't want to refinance? I figured only options I have is either sale the house or move back in....she'd love that...LOL!!!, I hope she cooperates, but if she don't, she don't leave me many choices at all, not sure why she wouldn't cooperate, simple thing to do and everybody wins....so, who knows...we'll see.

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#530587 - 03/06/11 02:30 AM Re: Refinancing & Equity [Re: LawDad]
sprinter Offline

recently joined

Registered: 02/07/11
Posts: 12
You need a lawyer to work this out for you. He/she can help you come to an agreement and get it in writing. It's not a bad thing. It doesn't mean you're "lawyering up" per se'. Approach her about it and say let's get a settlement written up by a lawyer. If things were to go sour and you went to court, you'd get half of everything period. So it's in her best interest to come to an agreement.

Just because you're getting along great now doesn't mean it will continue. My wife and I had a settlement already agreed up and typed up. After negotiating it, she refused to sign it and decided to sue me. This after having had an amiable relationship even though she left me!


Edited by sprinter (03/06/11 02:32 AM)

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