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I’m in mid 50’s, About to file for divorce (settlement agreement) after 24 years, no minor children, Spouse is moved out, spouse contributes $0 to mortgage, I recently Lost my $70k job.
$10K cash in bank, (plus retirement savings)
$2K mortgage payment includes tax/insurance
$235k approx home value.
$164K principle balance.
No other debts.
House needs to be sold.
$10-20k various repairs and improvements that should be done before house is on market for sale.
I’m in mid 50’s, About to file for divorce (settlement agreement) after 24 years, no minor children, Spouse is moved out, spouse contributes $0 to mortgage, I recently Lost my $70k job.
$10K cash in bank, (plus retirement savings)
$2K mortgage payment includes tax/insurance
$235k approx home value.
$164K principle balance.
No other debts.
House needs to be sold.
$10-20k various repairs and improvements that should be done before house is on market for sale.
What are my options?
Move to a different state, you're pretty much in the worst possible area you could be. Facts.
Sell house and find a apartment, then find a woman that has a house and some money looking for a man to keep her company and then move in to her house.
OP, you should sell the house as is. Every month you carry it, your resources dwindle. Look for a new job in a low COL state. Now is great time for a fresh start and new beginnings. Go tend bar in a beach until you get your bearings. It’s all about you now.
OP, you should sell the house as is. Every month you carry it, your resources dwindle. Look for a new job in a low COL state. Now is great time for a fresh start and new beginnings. Go tend bar in a beach until you get your bearings. It’s all about you now.
They're brutal. Even in nasty, run down towns they aren't low. My son has been thinking about buying for a few years. He's been looking for small, older places which he can spruced up a bit and eventually sell. A house that costs $120,000 is saddled with $4,500 in taxes? He's not buying.
You should definitely contact an actual financial adviser instead of random people on the internet.
He needs a lawyer.
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