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#730419 - 09/10/11 12:15 AM Child Custody and Division of Marital Residence
cmp Offline

recently joined

Registered: 09/09/11
Posts: 1
My husband and I are in the proces of finalizing our Diverce agreement. I have two childred and want to be able to keep them in the house that we own jointly. I cant afford to buy my husband out. He had agreed to pay for the mortgage so that kids can remain in the house, even when he moves out. But now he has a girl friend and I am concerned that he will be changing his mind. He has not singed the agreement yet.

The house is not worth anything in this market and if we were to sell, we would loose money. Plus, I would not have any where to live with my kids. What is my best course of action, if he decides that he wants to sell the house.

What should I do???

#730420 - 09/10/11 10:18 AM Re: Child Custody and Division of Marital Residence [Re: cmp]
DedicatedDad Offline

Registered: 09/05/04
Posts: 1318
Buy lottery tickets or get a second have to be able to pay for something if you want it. It's not up to others to pay it for you.

Beyond that, if the house is worth less than the mortgage, there is nothing to "buy out" from your husband. You simply take over payments.

#730421 - 09/12/11 01:41 PM Re: Child Custody and Division of Marital Residence [Re: cmp]
peytonmanning18 Offline

recently joined

Registered: 02/18/11
Posts: 9
My girlfriend is in almost the exact same situation as you, except she only has one child and her divorce was finalized a little over a year ago.

But she still lives in the former marital residence (also in MA), and the condo is worth way less than they paid for it. Unfortunately they have decided they have little course but to default on the mortgage, her ex is declaring bankruptcy and she works at a non-profit herself so can't afford to take over the payments herself (they had been splitting them). They really bought at the peak of the market and it doesn't look like it's coming back to that level any time soon.

If I were you I would make sure the ex signs the agreement ASAP. From your description it sounds unlikely to me your ex would want to sell the house, that wouldn't really fix things. He might suggest defaulting though.


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