Real Estate and Divorce

User Forum Topic
Submitted by PerryChase on June 12, 2006 - 7:21pm

My brother is getting a divorce. His wife wants to keep the house and pay for it herself. He wants his share of equity out.
Does anyone have experience on how my brother would get out of the house and the loan? I suspect that his wife would have to qualify for a new loan.

Thanks in advance for your input.

Submitted by carefullyobserving on June 12, 2006 - 11:28pm.

The wife would have to do a cash out refinance in her own name to buy your brother out. In return, your brother would sign a quit claim deed relinquishing his rights to the property.

Submitted by Carlsbadliving on June 13, 2006 - 8:41am.

Looks like your brother could get the better end of the stick on that situation.

Submitted by burger007 on June 13, 2006 - 9:22am.

What "carefullyobserving" said is pretty much what happened to my firend who got a divorce just recently. He had to refinance and had to take out half of the gains and give to his wife(now ex-wife), she came out pretty good, 80k and alimony for 6 months.

Submitted by PD on June 13, 2006 - 9:30am.

I would not call alimony for 6 months, pretty good.

Submitted by burger007 on June 13, 2006 - 10:23am.

Hehe, I was more of like saying 80k was pretty good, they were married for 1 year and 1 month. She never worked and, sucked for my friend, we all told him not to marry her, but he still did. She is now off with 80k and some change.

Submitted by PD on June 13, 2006 - 11:05am.

80k and 6 months alimony is pretty good for a marriage of only one year.

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