My husband and I may have a chance to take on my former marital home from my ex-husband since he stopped paying the mortgage and my name is legally still on it. It is not in a great area, and he has let it fall into serious disrepair. The choices are to either take it on and repair it to make it liveable for us and our kids, or to let it go into foreclosure and still be liable for the balance financially. Taking on the mortgage would save us money in rent (about $500 per month), but we have little liquid money to work with in a repair capacity. What additional concerns should we look out for and what would make this a smart thing to take on?
2006-12-03
02:56:18
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10 answers
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asked by
thelilred_whocould
1