Divorce Support Forums: Equity/Negative equity-HELP!!

Divorce Support Forums: Equity/Negative equity-HELP!!
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State Support Forums >> Georgia

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2NoCharm
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Reged: 03/05/08
Posts: 24

Equity/Negative equity-HELP!!
#191239 - 03/29/08 02:14 PM (68.213.15.97)

Married him 2 years ago. House in my name. We pulled out all equity to pay off his debt. NOW.....with depressed real estate market and all equity drained, the house is worth LESS than market value. I know that if equity had built up over length of marriage, he would be entitled to half of that. But now, my question is....will he have to pay me half of the "negative equity" (the difference between what we owe and what the house will actually bring on today's market)?

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Samsung
Platinum

Reged: 06/14/07
Posts: 1874

Re: Equity/Negative equity-HELP!! [Re: 2NoCharm]
#191516 - 03/30/08 08:20 AM (71.214.159.236)

From what I've read in other cases, no. Do you have assets that have accumulated during the marriage? You might be able to get a greater share.

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ready4change
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Reged: 04/11/08
Posts: 15

Re: Equity/Negative equity-HELP!! [Re: 2NoCharm]
#196871 - 04/15/08 04:35 PM (98.18.244.53)

Check with an attorney and if you have a record of the equity in the home paying off HIS debt then maybe he will have to pay back ALL of the negative equity. Was the debt being paid off shown on the HUD (settlement statement) at closing?

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