I am in my early 30s. I was married for 7 yrs. My divorce was final in February of 2007.
As part of the settlement, I bought her out of our house. The housing market and economy have of course since soured. When I had the home appraised to buy her out, it appraised for about $100K more than it would today.
So we settled by my paying her half of the expected equity in the house. I am also having to pay her spousal support (we have no kids).
Since that settlement was based on the equity, and the equity has since disappeared...is there potential to have the settlement renegotiated?
Doubtful , you assumed the risk when you bought her out . Would you think it fair if prices rebounded and went higher than she settled for and then she wanted more ?
-------------------- Never let your sense of morals get in the way of doing what's right. Isaac Asimov
As answere said, you gambled on price of housing rising and lost. Hang on the housing market will rebound..it always does. Real estate is usually best viewed as a long term investment rather than the current trend of fliping houses for profit.
From my understanding unless you have taken a major paycut or she has had a mojor pay increase then you are stuck paying the socialist extortion termed as support. I just hope yours was term limited and not forever.
-------------------- Forget waiting for the storm to pass
Learn to dance in the rain
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