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Updated about 6 hours ago on . Most recent reply

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Denise Park
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Divorce Home - Keep it or Sell it?

Denise Park
Posted

Help! I am currently in the midst of divorce. We bought a 5 bedroom 3 bath home in Elk Grove in 2012 for $270k. 30 year fixed 0.0625% interest rate. The homes that have sold around it are mid 700k with a few outliers: one 800k and one at 670k. The house is standard with no updates. It's a fixer at this point. 

I was considering living in it and renting out the bottom two rooms to house hack it. I am a single mom with full custody and a restraining order. Also had a stalker around the corner when I left. I am making decent money but i rely on child support. I want to put myself in a position where i don't have to. It's a great school district so I'm thinking another single mother so we could support each other. It makes me nervous that he knows where I'd be living but I'm sure my kids have told him our address by now. 

My current rent is $2,300 and I just took on a car payment of $560. 

There is about 170k left on the house to pay off and the ex has 120k debt in HELOC tied to the house. Arguably his as he gambled.

Thank you for your time and knowledge in advance. I do well with actionable steps. 

I can't assume the loan and was told I'd have to refinance him out by the bank.




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