Parents Facing Divorce, Might loose the house - Posted by ETinoco

Posted by ETinoco on April 25, 2006 at 21:22:57:

thanks guys

Parents Facing Divorce, Might loose the house - Posted by ETinoco

Posted by ETinoco on April 25, 2006 at 10:34:32:

I’m 18 years old and still live at home with my parents. Recently my mom approached me and asked me to help her out. She said that my step dad, Allen and her were not getting along, which eventually might lead to a divorce. If this happens they will lose the house which is something my mom does not want to do. She has put a lot of time and money into fixing her home and she is not willing to let it go that easy. My concern is this:

The mortgage is under both of their names. They split the bills where Allen pays the mortgage payments and my mom every thing else (utilities, groceries, etc). If they were to get divorced would I be able to step in there and take Allen’s place? Is this possible, being that I’m young and probably have very little credit? Can the mortgage be transfered to my mom? What can we do to keep the house once Allen is out of the picture? Does anybody have any creative techniques to handle this? Thank you for your responses.

Re: Parents Facing Divorce, Might loose the house - Posted by divorce

Posted by divorce on April 25, 2006 at 17:28:37:

The first thing your Mom needs to do is go to a divorce attorney for legal advice. Are you still a dependent, going to school? This and many other factors per your State Law can determine who gets the house and how any assets are split.

Fairly adept of the facts, for 18 yrs old… - Posted by JT-IN

Posted by JT-IN on April 25, 2006 at 11:07:45:


One of two choices here… Stepdad allows Mom to leave the loan in his name, (not likely), and deed property over to her, and life goes on. Mom and You make payments, and service other housing costs and enjoyment of property. Of course this will take Stepdad’s concurrance and willingness to sign Deed.

The other option would be for Mom to qualify for a new loan on her own income, w/o the Stepdad’s income. She could refi the loan, of course Stepdad must also agree to deed property to her, however he would be financially free from the refied debt, if Mom can qualify. Again, this takes an amicable arrangement between the adults, but often, in a Divorce environment, they do not show the maturity of 18 yr olds such as yourself.

Congrats on your knowledge and understanding of the situation and pending issues that may allow for a solution. Hopefully in your adult life you can avoid these pitfalls, as Divorce is EXPENSIVE, both financially and emotionally. Good luck.