Need Divorce advice

[dschriv2]

What is the name of your state? Pennsylvania
Question:
After 18 years of marriage my husband and I are getting a divorce. We have two children ages 17 and 15. My husband and I own our home, worth about 199,000. We have debt which equals 189,000. We want a mutual divorce no fighting over what is going on. I want to keep the house, so instead of selling the home how could I legally keep it? What if I wanted to "buy him out" how would that be handled? Do you take debt minus equity and split the difference? So if we had 10,000 in profit after this calculation could I buy my husband out with $5,000?
If I could, could I also then tell him instead of child support for however many months that would equal, he would not have to pay. Ex. If child support was $400 a month after about a year the money I would have paid him would be paid off. This way I could keep my house.
If this was agreeable to both parties would it be possible legally?

 

[Bali Hai]

What is the name of your state? Pennsylvania
Question:
After 18 years of marriage my husband and I are getting a divorce. We have two children ages 17 and 15. My husband and I own our home, worth about 199,000. We have debt which equals 189,000. We want a mutual divorce no fighting over what is going on. I want to keep the house, so instead of selling the home how could I legally keep it? What if I wanted to "buy him out" how would that be handled? Do you take debt minus equity and split the difference? So if we had 10,000 in profit after this calculation could I buy my husband out with $5,000?
If I could, could I also then tell him instead of child support for however many months that would equal, he would not have to pay. Ex. If child support was $400 a month after about a year the money I would have paid him would be paid off. This way I could keep my house.
If this was agreeable to both parties would it be possible legally?

Yes.

Your attorney should be able to answer these questions.

Usually the fighting starts when one or both parties become greedy and begins listening to other opinions of what would be fair instead of using their own intellect and settling matters on their own.

 

[LdiJ]

What is the name of your state? Pennsylvania
Question:
After 18 years of marriage my husband and I are getting a divorce. We have two children ages 17 and 15. My husband and I own our home, worth about 199,000. We have debt which equals 189,000. We want a mutual divorce no fighting over what is going on. I want to keep the house, so instead of selling the home how could I legally keep it? What if I wanted to "buy him out" how would that be handled? Do you take debt minus equity and split the difference? So if we had 10,000 in profit after this calculation could I buy my husband out with $5,000?
If I could, could I also then tell him instead of child support for however many months that would equal, he would not have to pay. Ex. If child support was $400 a month after about a year the money I would have paid him would be paid off. This way I could keep my house.
If this was agreeable to both parties would it be possible legally?

If the debt you are talking about is all the mortgage on the house....then that is probably workable....with a twist.

It might be hard to get the judge to sign off on an agreement for child support to replace debt for a period of time. The system simply isn't set up to handle that. Therefore, if you can agree, it would probably be best to just have your agreement state that you will pay him monthly installments towards the equity in the home (in the same amount as the child support) and then you just give the money back to him each month.

That way he gets credit in the system for having paid his support....but you are giving it back to him for the equity in the home.

If all of that debt isn't just the home....if it includes other things....then he is obligated to share in the responsibility of paying that debt.