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We want to take one step at a time. The question is, he is buying me out of the house. He needs a 210,000 mortgage. We owe 91 K on first mortgage and it’s value is approximately 325,000. He has a private practice and on his tax return it doesn’t look like he makes much though he really makes enough for this loan as I have consulted a mortgage calculator. What do you think?

4 Thoughts on My husband is buying me out before the divorce?
  1. Landlord
    May 2, 2013 at 11:38 pm

    He can only borrow with his own income, and that is the income he is paying taxes on. Any illegal money is not going to count.

    He needs an income of about 80k a year in order to afford a loan of 210.

  2. ?
    May 3, 2013 at 12:28 am

    The house is worth 325,000
    So that he owes you half 162,500.
    The mortgage is half each so that you owe 91,000/2 = 45,500
    You do not state whether or not there is a second mortgage – I assume not.
    That means that he should cut you a cheque of 162,500-45,500 = 117,000.
    The necessity to get a mortgage is up to your husband.

    On the other hand he owes you 117,000 plus half of the amount owing of 91200/2 = 45,500 or 162,500.
    he can get a mortgage or you can take out a mortgage on the house.

  3. Jo W
    May 3, 2013 at 1:09 am

    Get professional advice.

  4. real estate guy
    May 3, 2013 at 2:06 am

    have him talk with a lender.

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