Division of 401k and refinancing house in divorce?

Georgeanna
I amcurrentlyin the process of getting divorced and I am trying to buy out my housefrommy husband. Here are the facts:We paid $270K about 12 years ago. We refinanced many times, at thispointthe house is worth about 700K and there is 12 years of a 15 year mtgremaining. The rate was 4.75%. For me to buy out the house I wouldneedto give hime the equivelant of 531K from savings, investments and 401K.Our joint 401K is valued at $468K. My lawyer is telling me that itwillprobably be valued at only 60-80% (depending on the settlement) of itsworth because it has not been taxed yet.My first instinct was to keep the current mtg with its monthly pymt ofabout $1540 and give him pretty much all the 401K. That way my paymentwould be untouched. But now I am thinking that I shd refinance thehouseand take out the remaining $110K that I will owe him. I t seems a 2ndmtgat this time will cost about 7% so that does not appear to be a goodoption, and the problem with that is that my payment becomes to heftyformy income, and on the other hand I give away my retirement nest egg.Canyou give some financing alternatives?

Dana
I think you need to look into the reason of why you want to keep your house? I would say sell the damn thing, split the profit, keep your nest egg for retirement(you'll need it). Buy something more affordable for you. Pay with cash from the sell. No house payment, fewer worries.

Louis
Have you thought about him getting the house and you getting the money, then you can purchase another house for the money you have and can afford. Don't rush into this. I did really well with this idea.

Elizabeth
if you want to refinance the house, in order to keep your real estate property, and at the same time have a low monthly mortgage, wen at the same time you have paid off your debt.look into the Option arm, it is an excelent program for people who refinance every 3 to 5 years and want to put heir money to work for them, if you want further advice with your finances and real estate, call a real estate & financial services firm they have great advice free of charge, fully licenced individuals in the securitys and real estate, A mortgage broker that will not let you fall in the finansiall pit hole .Call this number (909)3733060 ask for Kederio hes helped alot of people in poor and very dificult financial situations, such as your self . youre better off asking a licenced expert than random individuals. you dont loose anything for expert advice, dont waste your time with other random answers. further questions email jackiegradilla @yahoo.com