buy out my husband for house val27: I live in Washington state, I want to keep the house--it is appraised at $180,000 we still owe $116,500 on it. HUsband wants to sell & split profits, but I love that house & want to buy him out..a realtor told me total profits split will be $18,000 each. Can I give him $18,000 and just add that to my loan? This is just a horrible situation to be in
Re:buy out my husband for house Dino: I was just in this situation. I dont know how american banks work but i assume its probably similar the world over.
I had a joint mortgage with my ex. Valued at 195k, owed 170k. Actually agreed on price of 215k.(i like the house). that sent 22k each way.
I had to take out a NEW home loan to pay off the old one because it was in joint names. I couldnt just transfer the mortgage. that added a whole new bunch of fees that cost me a few thousand. so it ended up that she got her $22k and i got a massive mortgage. the 22k coming my way was just sunk into the mortgage straight away.
she got her $22k and I got the house but its not as simple as just giving them cash.
