26 years and Im done

[gins331]

I have been married for 26 years I live in Michigan,I have two children son 24 and daughter 16. My question my house is in my name only, and like most everybody I owe more than what its worth, my wife and I are having a non contested divorce with no lawyers, and is due to be over on oct 24th 2011 , my sons girlfriend lives in our house also and is having my first grandchild anytime now, my wife wants me to leave, should I stay and wait for our divorce to be over,can i draw up papers and rent this home to her so I know the payment is being paid, I will be paying 100 per week in child support for my daughter, or I can stay my wife leaves and get market value of home and buy her out or let her stay I leave and sell home when my daughter turns 18 and child support stops Im just not sure what to do here with all thisWhat is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

 

[xylene]

You are getting a divorce, after a long marriage, with assets.

You should have a lawyer representing you. That is foolish not to.

You should not agree to an 'uncontested divorce' if that isn't what you want.

You can still have an uncontested divorce if you have a lawyer making sure your bases are covered. The reality is you don't have all the answers, hence why you need a lawyer.

It is you home, and I have no idea why you would move out unless you really want to or you were ordered to (and your wife's marching orders don't count).

 

[gins331]

We both agreed to non contested divorce, we will split up everything 50/50 also I believe here in mi she is entitled to half under our laws Im ok with that and paying child support for my daughter. We have lived in this house for about 15 yrs Im just kinda stuck with it and I have great credit and want to keep it, my wife wants to keep our kids together right now, my son is just starting in heating and cooling but doesnt make alot yet , Im 50 and want to get on with life is a short sale a good idea? if I sell now I will be out alot of money

 

[LdiJ]

I have been married for 26 years I live in Michigan,I have two children son 24 and daughter 16. My question my house is in my name only, and like most everybody I owe more than what its worth, my wife and I are having a non contested divorce with no lawyers, and is due to be over on oct 24th 2011 , my sons girlfriend lives in our house also and is having my first grandchild anytime now, my wife wants me to leave, should I stay and wait for our divorce to be over,can i draw up papers and rent this home to her so I know the payment is being paid, I will be paying 100 per week in child support for my daughter, or I can stay my wife leaves and get market value of home and buy her out or let her stay I leave and sell home when my daughter turns 18 and child support stops Im just not sure what to do here with all thisWhat is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

You owe more on the home than its worth. Therefore selling it now has the downside of requiring a short sale, and therefore a hit on your credit.

Therefore, it would probably be to your advantage for one of you to be keeping the home, at least until the market improves. The person who should keep it is the person who is best able to afford to make the payments. If both of you can realistically afford the payments, then the two of you will have to agree on who keeps the house. If neither of you can realistically afford the payments, then it would probably be better to try a short sale and take the credit hit.

If the two of you cannot come to an agreement, then your uncontested divorce becomes contested.