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#1
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educated in marriage (messy)What is the name of your state? Pennsylvania I have been married for ten years, no children. I have co-signed a substantial amout of mortgage debt for my husband on income properties. All of the deeds to the properties are in my name also. He cannot maintain the properties on his low salary from his primary job, will not sell the properties and we have no cash flow. Soon mortgages will go unpaid and alot has already ended up on credit cards. In an attempt to bring in more income, I went back to school for a better job. My husband currently earns more than me. My husband refuses to find better employmet and wants me to get us out of this jam because I will make more than him after I graduate. If we divorce after I complete my education, (I am half way through and have no place else to live), do I have to pay him part of my salary because I was educated during the marriage? For how long? I'm thinking of dropping out because of this. Can I ever get the mortgage debts out of my name? If not, do I have a right to have a say in their management from outside the marriage because the deeds are in my name also? (he runs it all now) - Sorry so confusing - it's a mess. |
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#2
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| I'm having a hard time following you- you went from mortgages to him paying you because of your education.... The main problem is that you are the cosigner on the properties which means that if he decides not to pay, it's your problem and if you can't pay, well guess what? The houses forclose and your credit gets dragged into the sewer. I believe that you can only get the debts out of your name if you sell, however I will need backup on this.
__________________ If you can't laugh at yourself... Laugh at other people! |
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#3
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| Sell them dogs now and try to get out of that debt. If hubby won't sell then you're either going to have to go through with the divorce, let the houses go to foreclosure or force the sale through a partition action. |
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#4
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| Absolutely! If you divorce and start partitioning the property, he's either going to have to refinance and take your name off if he wants to keep them or he'll have to sell them. Either way, your credit doesn't get trashed. And you just may get enough equity out of the homes to help you with school after the divorce. |
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#5
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| Thanks for the replies; again, sorry so confusing. I wrote "do I have to pay HIM part of my salary because I was educated during the marriage?" So my main question is should I drop out of school now and proceed with divorce or can I stay in school and separate? He wanted to have rentals because his job, working for a family business, has no benefits (health insurance, retirement, 401K, ect.). He is paid very low for his skills and refuses to leave them because they are family and need him. He does not care what "we" need. They are able to pay him more but they take advantage of his devotion to them. I am left to pick up the pieces. I am trying to get away without having to pay for all of them for the rest of my life. |
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