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My friend needs help in an ugly divorce
My friend has been married for 10 years and wants a divorce. She has been laid off for over a year now but does go to school and gets grants and other support. In all, she will not have enough to fight to keep the house. Her son has ADHD and the school he is in, is the best for his condition by far and she wants to keep him there. Her soon to be wants the house because he never owned one before. I told her she should fight for the house but financially she can't afford it. Since its in both their names does her soon to be pay half of the mortgage? Or if he stays, can she asked to be bought out? What are some choices she has?
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Frequently, keeping the house is a terrible financial decision. If her income is modest (or zero), and she is going to be in school, it may be better to give up the house. Of course, this advice is dependent on her resources and expected income.
Yes, if there is equity in the home, she can ask to be cashed out.
In a 10 year marriage, chances are any kind of alimony
will be temporary (1-3 years). So a permanent contribution by the husband of 1/2 the mortgage is probably out of the picture.
Attorney Howard Iken
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