House or no house?

[undecided546]

Ca**************..I am getting ready to move ahead with my divorce..My husband wants to refrain from selling the house. With the times as they are, we now only have maybe 30k in equity left in the house since prices of homes in my area are declining rapidly...My question is should I try to keep the house, or should I let him buy me out? He currently makes more money than I do, but that may change when I find a permanent job.

[nextwife]

Can you afford to get a mortgage and buy HIM out? If not, there are housing bargains galore out there. It might be easier to just let him buy you out.

[mistoffolees]

Originally Posted by undecided546

Ca**************..I am getting ready to move ahead with my divorce..My husband wants to refrain from selling the house. With the times as they are, we now only have maybe 30k in equity left in the house since prices of homes in my area are declining rapidly...My question is should I try to keep the house, or should I let him buy me out? He currently makes more money than I do, but that may change when I find a permanent job.

How in the world could you expect someone to answer that question for you?

To even get remotely useful advice, you would need to answer the following:

1. Can you afford the house on your own?
2. Is your income/credit rating/equity high enough that you can refinance in your name?
3. Do you have the money to pay him for half of the equity?
4. Do you like the house well enough to want to keep it or does he like it more?
5. Are there other options - like selling the house and moving into a smaller house or apartment - which appeal to you more?
6. Are there kids living in the house with the two of you, and who will they be living with after the divorce?
And so on....

[tuffbrk]

Originally Posted by undecided546

Ca**************..I am getting ready to move ahead with my divorce..My husband wants to refrain from selling the house. With the times as they are, we now only have maybe 30k in equity left in the house since prices of homes in my area are declining rapidly...My question is should I try to keep the house, or should I let him buy me out? He currently makes more money than I do, but that may change when I find a permanent job.

You don't have a permanent job? I think that answers your question for you.