Mr. Cooper
New
Reged: 11/26/07
Posts: 3
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Thanks in advance for any advice given!
Brief History:
Was married to my first wife for 17 years and have to children that are under the age of 18 that I pay child support on. Bought my house in July of 2006 by myself.
I remarried in December of 2006 and sold my current wife's house where she spent the proceeds on everything but paying off her debit.
Upon moving into my house she put me about $12000.00 in debit because of the remodeling her materialistic personality needed.
I recently found that she was WAY WAY WAY in debit before we ever got married, on top of having a very shaky marriage.
We have now been married a very short year and I see that this marriage is doomed.
Here are my concerns:
I dont want to lose my house. I have 2 children to raise and no family to speak of. There is little equity built into this house because I purchased it with no money down. I have to have a home to raise my children in.
Spousal support:
I already have a very hefty child support payment that is very important to me and dont feel like it would be fair to strap me with spousal support, given the fact that she works full time and has the ability to lean on her parents as much as needed.
Lawyer Fees:
I have a daughter going to enter college next fall and I am saving every penny I have to help her.
I have spent every penny I have to make my wife feel comfortable and provide for her extravagant needs.
So what should I truly be worried about?
What advice can you give.
Thanks Much,
Concerned Dad
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theanswerguy
Platinum
Reged: 04/12/07
Posts: 2190
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I dont want to lose my house. I have 2 children to raise and no family to speak of. There is little equity built into this house because I purchased it with no money down. I have to have a home to raise my children in.
>>>>>>>>>>> It's a short term marriage and you have little , if any , equity . Nothing to worry about .
Spousal support:
I already have a very hefty child support payment that is very important to me and dont feel like it would be fair to strap me with spousal support, given the fact that she works full time and has the ability to lean on her parents as much as needed.
>>>>>>>>>>>> Spousal support is unlikely . No worries .
Lawyer Fees:
I have a daughter going to enter college next fall and I am saving every penny I have to help her.
>>>>>>>>>>>> Legal fees are a crapshoot . Small worry .
GET OUT WHILE THE GETTIN'S GOOD !!!!!!!!
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Never let your sense of morals get in the way of doing what's right. Isaac Asimov
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Mr. Cooper
New
Reged: 11/26/07
Posts: 3
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Hmmm that all sounds really good. Can you tell me why there are no worries when it comes to my house and spousal support?
Thanks for helping.
Mike
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Mr. Cooper
New
Reged: 11/26/07
Posts: 3
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I would like to take care of this nice and easy without getting messy.
She was in debit up to her eyeballs before and only shared a glimpse of it. When we married I had a good $10,000 in cash and now I am about $12000 in the whole on credit cards.
Depending on how easy she wants to be is how easy I will be on the debit.
Is that a good idea?
Mike
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theanswerguy
Platinum
Reged: 04/12/07
Posts: 2190
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Hmmm that all sounds really good. Can you tell me why there are no worries when it comes to my house and spousal support?
>>>>>>>>>>>> You purchased the house prior to the marriage , she would usually only be entitled to a portion of any increase in equity DURING the marriage . As it was recently purchased and with the slow housing market , I'd guess not much equity has accrued . Spousal support is RARELY ordered in short term marriages , except for temp. alimony while the divorce is pending .
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Never let your sense of morals get in the way of doing what's right. Isaac Asimov
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