RE: Divorce Quandry...What would you do?

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RE: Divorce Quandry...What would you do? - 8/12/2009 10:32:15 PM

Termyn8or

Posts: 18681
Joined: 11/12/2005
Status: offline

FR

Poosey, if you are going to go with another guy, get the divorce. Everybody sleeps better at night. Now the way you speak of your soon to be ex, I would imagine that you are not on the best of terms. That doesn't help. Any two people can co-own a house, but if you can't get along don't bother. Also if his health is really bad, you are next of kin. I would assume that right now would not be a good time to get him to sign a durable power of attourny.

Really though, looking at the bigger picture, I don't know what he wants but you want another guy. I say take the money and run. Remember that what happened to the value of your house has happened to plenty of houses in this country. Just get another one while the market is still depressed and if you even lose by a few bucks, your losses are cut. Then you get to ride the next balloon up. If you are used to being a homeowner and can handle it, keep being one. Now is a good time. When you have cash in hand to buy a house right now, that is an enviable position. If the laws in you area are anything like here I can advise. The way we played it because we have the manpower on tap is to fix the house first, then let them inspect it. If they ask anything "That's the way it is/was". Boom. No hassles. I can update the electrical and plumbing, throw in a new bathroom or something and fix the roo(ves)f in a month. THEN you can mortgage it and buy what you really want, and if it doesn't sell, rent it. It's a win win, as long as you get the right property.

We could have done this ad infinitum and owned half this city by now. But we didn't for the same reasons alot of people didn't. It is alot of work, an investment in time. But also proven is that you don't have to buy the whole city, just satisfy yourself. Go as far as you need to get your dream house. Then you can stop. With any luck you might have one other house, which is rented but your dream house is paid off. They can't take it as long as you know what you're doing.

So I would say take the money and build a new life. I think for the sake of happiness that is the best thing, plus if you play your cards right it shouldn't hurt you too badly finacially. And as far as the sale being ordered by the court, as long as the stipulation exists that you can live there, there really is no big hurry. Do it when you get around to it, nobody has money for houses these days. Don't take a beating on it, just live there until the time comes. Then move on.

Good luck. You are looking pretty good right now, order the sale, but they can't order someone to buy it. Reminds me of Krupp over in Germany. They were ordered to sell their firm, but nobody had enough money. So what I am saying there is it will probably take a year or more to sell the house, just live there. Enjoy.

Whatever market you are in when they put you out, is the same market everybody else is in. The only advantage to staying there is a recovery of some equity, but as that happens prices on other properties are going up at the same rate. So it really doesn't matter. Pay the water bill and have a good time.

T

(in reply to SweetNika)