How do you keep the house in a divorce?

Caridad
I am probably going through a divorce soon and I would like to keep the house. Can I just assume the current mortgage or will the courts force me to refinance? I got a great rate and I already paid several years into the loan. I can afford the house without getting any financial help from my spouse. He wants to sell the house a split the proceeds, which I think is stupid in this market.

Darwin
Depends on him. You can ask for anything you want in the divorce, it just depends on what he will agree to. If you can refi on your own, do it and get enough cash out of it to give him his half of the equity. My ex felt so guilty, he didn't make me refi and he gets his equity (as of the divorce date) when my youngest turns 18. That's in another 10 years.

Aurore
Well you would have to refinance to your own name. Unless you can work out an agreement where he would agree to leave his name on the loan as long as you pay. If you have a lawyer maybe he can add in the Marital Settlement Agreement some language that states in you default on any payments that you will have to sell the house and split the proceeds. This will be kind of a reassurance for your soon to be ex husband that he does not have to worry since he is leaving his name on the loan. Does you husband have a 401(k) account or pension that you should receive funds from? Depending on if it is worth it to you, you might want to suggest that he does not have to split his 401(k) or pension in exchange for the house. So basically you would be buying out his interest in the house without having to sell it. To be honest though the best way is to refinance your self or maybe a family member can help you and get him off the loan. It's just to much of a hassle to do it any other way.Good luck!

Christene
First of all, do NOT leave the house. It is easier to be awarded possession that way. If you are certain you can afford it your lawyer should be able to request this of the court. You most likely have to "buy him out" of his half of any equity in the home. Be sure you figure this into your mortgage. You will probably will need to get your own mortgage, because he wouldn't want to be off the deed but still be liable if you default. Work it into your divorce decree.

Annalee
You will have to refinance in your name and give him half of the profits if you sold today.Trust me, the 45K I paid (incorporate that cash into your new loan) to my ex would have been 100K if I did not end it sooner. You are in the perfect time to stick it to him with the home value. You will be paying him probably the least amount possible. Money well spent on my part as I have three times his peanuts payout in equity three years later.

Alix
Can you handle the house by yourself? I think you do have to refinance. Its been proven that keeping the house is a bad idea. Sell it and split the proceeds and buy another house. if you can handle the real estate taxes, mortgage payment, utilities etc then go ahead and keep it. I think you do have to refinance if he/she wants their name off of the title.

Arianne
What I did was hire an attorney and told him I wanted the house. Then I told my attorney that my soon-to-be-ex said he was a stupid man which I wasn't lying, the ex really did say that about my attorney. And then the ex found out my attorney was not stupid at all. The ex was awarded his van and his clothes and only because I didn't want them.

Damian
i'll assume you live in a community property stateand i'll assume you bought he house during the marriageso you either buy him out or it's a forced sale and he gets 50% of the proceeds ( if any )welcome to what men have known for quite some time about divorce and homes

Ernie
You will have to refinance and to take his name off the loan and title and also to pay him out for his half of the equity in the home. You will have to be able to qualify for the new loan on your own.

Grover
You have no assurance the market will not get worse. But the court could force a sale, or you could buy out the other half at today's prices. I suggest you find A VERY GOOD lawyer, you will need him/her.

Kandace
Make sure you have an excellent attorney, that way you get everything you want out the deal.

Celestina
the two of you need to come to an agreement on the house. sounds like the two of you haven't..