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Author Topic: Have home with Equity - Getting Divorced - Wondering about options  (Read 74 times)

Offline bob999

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I have a home in the Boston Area with about $40,000 left on the mortgage.

I am getting divorced and in our divorce agreement I can buy my wife out for $140,000.

The home is worth about $375,000 as is and has a lot of upside as a fix and flip.

Ideally I would like to refinance, pay her off, take out enough money to pay off my credit Card debt, about $75,000 - don't ask, and not have to sell.  My two children would live with me.

I am self employed and don't think I can refinance based on what I show on taxes.

I want to stay in the house about three more years.

How can I do this without a co-signer?

I'm sure theres a creative solution - just don't know what it is






 




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