QUESTION
Can she live in the house until foreclosure (free rent equals compensation) as it sounds like a huge killer to my credit?
Asked on May 07th, 2013 on Divorce - Florida
More details to this question:
My wife and I are beginning to look at getting a divorce. We have about $48,000 credit debt as well. We are both on the title, but only I am on the mortgage. She would like to stay in the home, but frankly can't afford it and we were only married 5 year - no kids of the marriage. I could perhaps afford on my own, but the challenge is compensating her for the debt she will take on from me (if I take the house). I don't have the extra income to pay her.
3 ANSWERS
John Arthur Smitten
Until the bank comes and retakes possession of the home either one of you, or both, can live in the home.
Answered on May 10th, 2013 at 6:18 AM
Have you considered Mediation? Your situation sounds like it would be a perfect fit. Mediation is Fast, Effective and Affordable. The Mediation can assist you through those issues, prepare an Agreement for the Court and you're all set. Good luck.
Answered on May 10th, 2013 at 5:29 AM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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You need to set up an appointment with a local divorce attorney to find out what the options are concerning these questions and more. You might think about filing bankruptcy if you qualify, prior to the filing of a divorce. There are many options and many ways to negotiate difficult situations where both of you can be satisfied with the result, but it takes attorneys on both sides and a strong mediator.
Answered on May 10th, 2013 at 5:28 AM