Divorce Advice for Men | Fathers Rights Divorce | Child Custody

By Nathan A. Hacker

Indianapolis Divorce Lawyer

What do you do with the marital home when you’re getting divorced? 

There a few options and some things you should be aware of before you sign off on any agreement with your wife. 

The following is a list of 5 tips to consider when dividing your marital home during a divorce:

By Sara Pitcher

Cordell & Cordell Noblesville, Indiana Divorce Lawyer

Especially in a down economy, divorcing couples may not be in a financial situation where one party can afford to keep the residence.

In that case, the parties can agree to list the marital home for sale and include provisions in their property settlement agreement to provide for selecting a realtor, what repairs must be done prior to listing the home for sale, what should be fixed after the home is on the market, how to divide such costs, and what to do in situations where the parties do not agree on an expense.

The parties can also involve the court in these decisions.

Question:

I need financial advice on divorce. My ex-wife was awarded the marital home in our divorce decree.

I recently became aware that my credit score has dropped considerably since then because she has been repeatedly late on the mortgage.

Is there anything I can legally do to get my name off the marital home mortgage other than for her to refinance, which is next to impossible?

Question:

My wife and I are getting a divorce and she is requesting I pay 35% of my net income as child support for our four children.

She plans on using that child support money to buy a new house after our divorce is finalized. I don't think my child support payments should be that high, particularly if she is going to use it for her own interests.

Is there an option where we both pay a reasonable amount into a trust of some type that can only be used for supporting our kids? If not, can I obtain part ownership of any home she buys using child support I have paid her?

By Marty Woodrome

Mortgage Loan Originator

In my work as a mortgage loan originator, I am often called upon to provide financing to clients who are obtaining a mortgage as a means of bringing their divorce proceedings to settlement.  

As you are fully aware, if a couple has been together for a while and property has been amassed during their marriage, a mortgage is often required.

Some clients require a refinance loan to free their capital so that they can offer the other spouse a cash settlement. In other instances, sale of the property is required and securing financing quickly for the new purchasers is helpful.

Here are answers to four common mortgage questions that divorced men often ask.

• Can I call my mortgage lender to have my name taken off the home loan?
• How much of my home’s value will I be able to borrow if I owe my spouse part of the equity?
• If my name is still on the mortgage and my spouse is responsible for the payment per the divorce decree, will it affect my credit if a payment is missed?
• Can I qualify for a new mortgage if my name is still on my old loan?