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Fifth Column 9:13 Wed Feb 8
Getting equity from a house in order to facilitate divorce settlement
So, I have no cash but a lot of equity in family home. Mrs wants pay off to leave me with the kids and house until selling and splitting when youngest turns 18. All fine. How do I get equity from the house in this situation? If I remortgage do I have to pretend that I'm getting an extension on the house or can I just say that I want to get equity from house without giving a reason?.yes I know I can get financial advice from a professional but it's always useful to hear from others who might have done something similar.

I've got 80% equity to 20% mortgage if that makes any difference

Replies - Newest Posts First (Show In Chronological Order)

Son of Anarchy 4:22 Fri Mar 10
Re: Getting equity from a house in order to facilitate divorce settlement
Mike...

Thats if mate, sell the place and get a clean break

Dr Moose 4:04 Fri Mar 10
Re: Getting equity from a house in order to facilitate divorce settlement
Fifth Column 8:19 Wed Mar 8

Take it you've received a letter telling you she plans to take you to Sketchleys if you don't cave in to her demands?

Mike Oxsaw 3:38 Fri Mar 10
Re: Getting equity from a house in order to facilitate divorce settlement
Filipino hit man - $250 plus air fair, if it's any help...

joyo 3:02 Fri Mar 10
Re: Getting equity froim a house in order to facilitate divorce settlement
Private Dancer doesn't air his dirty laundry on here,just his problems with printers,Nigerian scammers and chicks with dicks!

Mike Oxsaw 12:31 Fri Mar 10
Re: Getting equity from a house in order to facilitate divorce settlement
Son of Anarchy 6:59 Thu Mar 9

If the value of the house increases at a greater rate than the extra interest it's a fucking good move - I did it for my first divorce back in the 1970s and the house prise rise effectively negated the extra cost by dropping the loan-to-equity rate well below the guideline.

The only drawback is that he has a tangible and identifiable asset that she can come back to and sweat again in the future.

If he has no need to sell, he could set up a trust and transfer the house into that, where it can't be touched, at the same time guaranteeing himself the right to live there as long as he so chooses. All sorts of schemes available - all perfectly legal and above board.

Or, of course, he could start getting his fingers & tops off a fit top solicitor and get her to sort it all out - for free.

Northern Sold 11:39 Fri Mar 10
Re: Getting equity froim a house in order to facilitate divorce settlement
Me and Dancer don't agree about NOTHING... apart from this.... bad backs, divorces, my missus don't understand me, full sleeve tattoo's.....runny shits... ok I'm cool with the shits... but the rest of it reeks of people having a fucking major breakdown...

Fifth Column 9:16 Fri Mar 10
Re: Getting equity froim a house in order to facilitate divorce settlement
PD every single post you make leads me to wonder why you choose to demonstrate to the world what a complete twat you are. You're the permanent, visible example of washing your dirty linen in public every day.

Private Dancer 7:16 Fri Mar 10
Re: Getting equity froim a house in order to facilitate divorce settlement
What a bunch of busy cunts some of you lot are. Why some people want to air their dirty laundry with strangers on a football forum is something I will never understand.

Son of Anarchy 6:59 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
Getting a loan on the house is financial suicide.

Why the fuck would you want to pay interest on money you give to your ex?

and in turn live in a house that was the base for your failed relationship.

sell up, pay her and move on.

Darby_ 12:46 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
Wise words, Nurse.

, 10:54 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
Is the house jointly owned or is it only in your name?

Nurse Ratched 10:47 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
Following on from Infidel's excellent advice, moving on, don't forget that women - all women - are really only interested in leaching off you financially. So just treat them like slabs of meat. Snakes with tits. And so forth.

Fifth Column 9:27 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
Cheers Dicko

Dicko75 7:55 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
57 responses and not a single one covering what you've actually asked!!!

You don't need to bother paying for advice.

Go and see the bank you have the mortgage with. You will be able to remortgage and draw back the equity. The amount they are prepared to go to will be based upon your age, income and affordability but in terms of equity you are in a good position and have plenty of room there assuming you are working and a few years from retirement. Their models will tell you what your options are pretty quickly if not immediately. Be straight with them and definately do not pretend the borrowing is for something that it's not - yours is a pretty common scenario these days. Whomail me if you need any more info. Good luck

Son of Anarchy 4:43 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
Wrap your cock in bacon and make the ungratfull skank suck you off, film it and send to al JIZZera tv for broadcast

Infidel 12:15 Thu Mar 9
Re: Getting equity from a house in order to facilitate divorce settlement
Fifth

My advice: put your kids first and do whatever is necessary to shield them from the effects of the divorce.

That means in practice that you should be generous and probably go beyond what is necessary in the settlement.

Your kids will respect you for it and that's all that matters in the long run.

My only other advice is : don't allow any feelings of resentment against her to creep in because they will destroy you.

It's not the cash that does the damage it's the anger and bitterness. But you can control that - just chalk it up to experience. You married the wrong girl and paid a heavy price. A simple mistake. Dust yourself down and get on with life, be positive and be happy.

riosleftsock 11:31 Wed Mar 8
Re: Getting equity from a house in order to facilitate divorce settlement
Good luck fifth, shitty situation to be in. None of us are getting any younger either.

joe royal 11:28 Wed Mar 8
Re: Getting equity from a house in order to facilitate divorce settlement
Fifth.

For the first time in 20 years

GO FOR A PINT.

Spandex Sidney 9:33 Wed Mar 8
Re: Getting equity from a house in order to facilitate divorce settlement
Fifth, she may have been genuinely reasonable to begin with. But she's had a month of her mates going on and on about her 'due' because that's what the wanker lawyers do.

The very best course of action, as been said is sell everything and split the lot NOW. Otherwise she will keep coming back for more and more and eventually she will have the lot.

Son of Anarchy 9:03 Wed Mar 8
Re: Getting equity froim a house in order to facilitate divorce settlement
Also... strike first! Dont be dictated to.

Call the bank, find oit the exact figures youre talking aboit then call her soliciter.

Son of Anarchy 8:59 Wed Mar 8
Re: Getting equity froim a house in order to facilitate divorce settlement
Bin Column...

Are you going to continue to be a muslim even though you dont have to?

Your 1st call is to the bank, tell then whats what.

My advice is to sell up, only way itll get done and dusted.

Im guessing you dont need a family home now anyway, so without an asset to sue or borrow against she cant come back for more.

Set up a company, buy an apartment in the conpanoes name and she wont be able to touch it.

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