when my wife left me 3 months ago she borrowed $51,000 against our house on a home equity line of credit.
I am now paying $300 a month for the money she borrowed, which brings my mortgage payment to $1,500 a month which I cannot sustain.
if I liquidate my IRA and use the money to pay off the home equity line of credit, is a mediator or a judge likely to consider that fair since it doesn't reduce the net worth she can claim OR would they be more likely to consider it unfair since the home equity is much less liquid than the IRA would have been?
I know there can be no definitive answer to this since it would depend on the opinion of the mediator or judge.
I'm just looking for informed opinions (guesses) since I have no experience with mediation. I have no idea what to expect, and no information to base my own opinion on.
(I'm not trying to hurt my wife in this and hope to reunite with her.
I'm just trying to fix my serious short-term cash-flow problem, without seriously impacting her in the long run)
I am now paying $300 a month for the money she borrowed, which brings my mortgage payment to $1,500 a month which I cannot sustain.
if I liquidate my IRA and use the money to pay off the home equity line of credit, is a mediator or a judge likely to consider that fair since it doesn't reduce the net worth she can claim OR would they be more likely to consider it unfair since the home equity is much less liquid than the IRA would have been?
I know there can be no definitive answer to this since it would depend on the opinion of the mediator or judge.
I'm just looking for informed opinions (guesses) since I have no experience with mediation. I have no idea what to expect, and no information to base my own opinion on.
(I'm not trying to hurt my wife in this and hope to reunite with her.
I'm just trying to fix my serious short-term cash-flow problem, without seriously impacting her in the long run)
