Home equity division

[novabags]

during divorce my husband took a second on the home thus taking up any equity. i have been told there is nothign i can do to get the split on the equity except have hime take over the home and 2nd. I end up getting nothing.

Is there anything I can do. Please email me. This is in Indiana

[Edited by novabags on 05-01-2001 at 12:55 PM]

 

[dorenephilpot]

A spouse can take out a second mortgage by himself or herself on a home BEFORE the separation but not afterwards.

That is considered dissipation of marital assets (theft from the marital pot), and you are CERTAINLY entitled to your part of that money.

Can't you see what would happen otherwise -- every person involved in a divorce would rush out and take out a second mortgage to get at the cash, leaving the first person out of luck.

No way is that OK.

Who TOLD you there was nothing that could be done?