#divorce

Pull $ when refinancing? No penalty because of circumstances, divorce.

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Pull $ when refinancing? No penalty because of circumstances, divorce. Divorced, I’m keeping the house. I have to Refi to pay my ex equity & get his name off. Should I pull additional $20k to beef up my emergency fund & pay off my car? It increases my mo payment $140/mo. The increased mortgage is already a stretch but having some cash at this point would be nice. The rate I have locked in is 6.6% (RIP sweet 2.5% f…

Reddit Personal Finance 1.1k 2023-11-03

Seeking advice on how to handle finances in a divorce

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Seeking advice on how to handle finances in a divorce I need some help with handling financials for a divorce. Thankfully it’s a boring divorce and mostly drama free. The most difficult part is getting my equity out of the house and getting the mortgage into her name. What’s making this so difficult is high interest rates and her not being fully financially independent. Here’s a rough summary of wh…

Reddit Personal Finance 853 2023-10-28

Stuck between two options that would essentially close out a year long divorce and it’s regarding the marital house. Can I get some thoughts or opinions on my situation?

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Stuck between two options that would essentially close out a year long divorce and it’s regarding the marital house. Can I get some thoughts or opinions on my situation? Hey all Been going through a divorce for about a year now, it’s been obviously stressful and we’re basically done with all but one matter, the house. We bought the house in 2019, refinanced a year later for a 2.75% interest rate and the monthly mortgage payment is roughly $1,300/month which is a godsend. We owe $170,000. As of today looking at …

Reddit Personal Finance 661 2023-10-22

Divorce settlement 40G

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Divorce settlement 40G Hello, small backstory: I’ve been a stay at home mom for 13 years, just starting out in the workforce after divorce and am currently unemployed after a job I attempted didn’t work out. My divorce was finalized earlier this year. I was awarded $40,000.00 that I should get at the end of this month. I calculated it out, my car, and credit card deb…

Reddit Personal Finance 243 2023-09-29

401K split in divorce question

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401K split in divorce question Me and my soon to be ex wife are 31. We both work full time and have no kids. We agree on everything in divorce but I’m trying to avoid splitting my 401k. I don’t have enough in savings to give her the full 50% of the amount that the account grew while we were married (6 years). Should I consider taking out a personal loan to avoid splitting the…

Reddit Personal Finance 169 2023-09-19

Amicable divorce likely, how do I keep the house and rate?

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Amicable divorce likely, how do I keep the house and rate? Throwaway account, but long time reader and poster. With 17 years to go and a rate of 2.875, I love the mortgage payment and the house. We have only some credit card debt, never dipped into the homes equity, and her car has a year to go on it’s lease. Purchased this house knowing we could handle the mortgage with just my income, we each make 125…

Reddit Personal Finance 184 2023-09-07

My Wife and I are considering divorce to afford her student loan payment. What other option are there?

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My Wife and I are considering divorce to afford her student loan payment. What other option are there? My Wife and I are considering divorce to afford her student loan payment. What other option are there? Since we are married they want $780 / mo for the next 10 years. She used to pay like $150. This is totally unreasonable and unaffordable. How can we lower this? If we cant come up with any other option we will need to get divorced (on paper). A…

Reddit Personal Finance 196 2023-08-30

Mom has no job, no savings (divorce)

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Mom has no job, no savings (divorce) Hello, I am really lost on what to do. My mom was brave enough to leave her toxic relationship. However she never held a job. She will be receiving a few money ~100k from the sale of the house. But what is the best plan for her to be independent? She won’t receive much alimony due to the other party refusing to pay (he will leave the country) so…

Reddit Personal Finance 235 2023-07-28

Buying out house in divorce

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Buying out house in divorce I’m going through a divorce and have 160k in equity for our shared home. I have a 3.375% interest rate which would jump up to a 7% interest rate with a refinance. I do not have any available funds to personally buy out her equity so I would have to refinance the home. I believe I could take out a heloc, if she agrees, at 8% for 10 years for her …

Reddit Personal Finance 193 2023-07-26