QUESTION
Is it possible for me to freeze the equity in my house since it has been on the market for sale?
Asked on Feb 17th, 2014 on Divorce - Rhode Island
More details to this question:
We are still in the middle of financial settlement of the house. The house has been put on the market for sale. It is difficult to sell and will probably take some time. As the time goes by, I continue to pay down the house loan and my ex gets more equity. Children and I live in the house currently. I do get a small adjustment to child support for living in the family home. I just find it unfair as I pay the monthly mortgage and amount owed down and his equity increases. Attorney says I would never win this in court because no proven case to prove it. This is in PA.
3 ANSWERS
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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if you have owned the house for only a few years and are in the first few years of a mortgage the amount you pay toward equity each month is so small that you can neglect it because its not worth fighting (
Answered on Feb 21st, 2014 at 6:44 PM
Family Law Attorney serving Peoria, AZ
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The Law Firm of Jessica M. Cotter, P.L.L.C.
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In Arizona the court would likely take the position that although you are indeed paying down the mortgage somewhat as you make the payments you are also receiving the benefit of residing in the home, which is the trade off for having exclusive use of the home. I suggest that you listen to and heed the advice of your Pennsylvania attorney.
Answered on Feb 20th, 2014 at 8:45 PM
Family Law Attorney serving Irvine, CA
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Law Office of Julie A. Ringquist
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In California, you would be entitled to reimbursement for one-half of the pay down of the mortgage, BUT he would be entitled to collect his half of the rent from you (because you have stayed in the house each month since the separation, you have deprived him of half of the rent you would have gotten from the rental of house if you had BOTH moved out at the time that he moved).
Answered on Feb 20th, 2014 at 5:45 PM