House has both husband and wife on deed. Husband has mortgage solely in his name and credit. Few months ago husband refinanced house for a larger amount to pay down debts. Wife then moved out of the house into an apartment of her own and filed for a divorce. Wife doesn’t have income or creditworthiness to refinance or pay for house. Husband wants to remain living in home and continue to pay mortgage.
House appraisal value is the same dollar amount as the loan/mortgage amount.
Wife wants her share of equity out of the house.
Does she have any “leg to stand on” so to speak and what could one reasonably expect her to “get” out of this house?
How does a judge divide equity in a house that doesn’t have any?
Buy out doesn’t seem an option because loan is already soley in husband’s name.
Husband doesn’t want to sell property.
There is a pre-payoff penalty on mortgage. Is wife responsible for half of this penalty?
How someone thinks the wife who left, no longer lived in the home, no longer payed for it, did NOT contribute to the maintenance or upkeep to the home nor it’s appreciation in the years following the divorce but thinks the wife should get 50% of the future sale value ~ is CRAZY.
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