Me and my husband of 21 years have been living apart for the past year. He moved out of the house that we have bought 6 years ago and i stayed in it wit my 2 kids. Now i want to sell the house and split the money and move. soon after my idea my husband told me he wants to refinance the house because he is paying $400 more each month then in the past. Me and my daughter think his actions are kind of weird. I have a feeling he wants to refinance to pay off his loan he took out for his Mercedes and to pay off other loans that belong to him (his credit cards) At first he has told me i don't have to sign any closing papers but today he called me saying that i have to put down my signature down. I'm starting to feel that he's trying to play me out...i read somewhere that in the future if we do get a divorce i will be entitled to less...
should i sign these papers?? do i have to?? why might he want to refinance out of nowhere?? PLEASE HELP
2007-03-05 09:11:34 · 10 answers · asked by <3 MISS SEPTEMBER <3 1 in Family & Relationships ➔ Marriage & Divorce
i received a phone call from him threatening that if i dont sign he will ruin my life and that he has a credit card with a $100K available credit and he will take that and flee somewhere....what do i answer to that??
2007-03-05 10:02:33 · update #1
If you don't want to stay in the home, then don't sign.
If he needs money, let him "buy" you out of the home. Sign an agreement, notarized by both that if you sign the re-fi, you get 1/2 of the equity in the home, he gets the home and there will be no claim on any future increase in the value of the home if the separation results in divorce.
It's possible to get a post-nup that addresses this, and gets you off the mortgage.
You may be able to capitalize on this by getting your equity now and getting off the mortgage and have the home and it's mortgage considered as not marital assets and debts.
When my ex-wife left, she wanted to trade a van we both owned and had jointly financed. So we negotiated an agreement that in exchange for her getting to trade the van and use it's equity as trade for a new car, I would have no claim, nor be responsible for the loan on the new vehicle, and she would have no claim to the two vehicles I owned at the time.
What I'm saying is don't sign anything until it's a deal you can live with. You could negotiate for something you want in this, even if it's just be be rid of the home.
2007-03-05 09:51:14 · answer #1 · answered by camys_daddy 5 · 0⤊ 1⤋
First of all you give no indication whether the seperation was legal or if you simply were living apart. If that is the case then you have no case. If you have nothing legalized the law still looks at your marriage as just that and nothing more. Without a legal seperation you have nothing to stand on. So he wants to refinance the house in order to pay for his car. BFD. Any loans/credit cards he has (as well as the Mercedes) are YOUR loans as well because you are still LEGALLY married, so it would benefit YOU in the long run for him to pay those things off whether you like it or not. That is unless you want his creditors coming to you looking for payment, garnishing YOUR wages etc...because any debts he incurs while you are still LEGALLY married are your debts as well. If you were planning on divorcing in the first place why didn't you file when he first moved out? You've pretty much screwed yourself either way you go.
2007-03-05 17:25:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
By refinancing you are putting more money in the amount you will owe the mortage company. But by selling, I believe any unpaid loans are automatically paid off before the sale of the home is final. Call a Real Estate Agent and ask them about this situation. Or look in the yellow pages of your telephone directory book for a Divorce Attorney. Some give free legal advice over the telephone. Best of luck to you!
2007-03-05 17:20:27 · answer #3 · answered by pictureshygirl 7 · 0⤊ 0⤋
The best thing to do is to sell the house, split the money and if wants to pay off his car with his half then so be it. The catch is that if you sign those papers, just like every other answer states, YOUR portion of the proceeds will be lessed because of the increase in debt. That would have to be paid first, its the law!
or Just let a judge decide!
2007-03-05 17:30:20 · answer #4 · answered by FemFatale 3 · 0⤊ 0⤋
I would not sign anything untill an attorney looks this over. You could get stuck paying more in the end, or getting less if you divorce. Get an attorney before you sign anything! Tell him to keep threatning! Hope he takes off! Don't let him bully you into anything! Why is he is such a big hurry in the first place? If he does a refi- he may use the money to pay off his own stuff and leave u high and dry. Good luck!
2007-03-05 17:17:01 · answer #5 · answered by JNS 5 · 2⤊ 0⤋
Under no circumstances should you sign the re-fi without first consulting with an atty. If you have not yet started divorce proceedings, and do not have an atty, most will give you a free one hour consultation. Although if you have been seperated and he is accumulating new debt, it would be a good idea for you to hire an atty to at least get a legal seperation on the books so you will not be responsible for his debt in the case of a divorce.
2007-03-05 17:17:27 · answer #6 · answered by sunshinemom 2 · 2⤊ 0⤋
If you are separating no don't do it you will not get any money out of it, it sounds like he is being completely selfish and by you refinancing he will pay off his bills and if you go to sell it the loan will half to be paid off first and then you won't get anything so no don't.
2007-03-05 17:19:34 · answer #7 · answered by Mary O 6 · 1⤊ 0⤋
Hi! if were me i would not sign anything without consulting a lawyer or some legal advise.Good luck.
2007-03-05 17:19:32 · answer #8 · answered by Without a clue 1 · 2⤊ 0⤋
You don't have to sign anything you don't want to sign. Stop listening to what your husband says. He'll screw you over big time on this house.
2007-03-05 17:59:51 · answer #9 · answered by Anonymous · 1⤊ 0⤋
DO NOT sign. Go to a lawyer immediately.
2007-03-05 17:16:28 · answer #10 · answered by Anonymous · 2⤊ 0⤋