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Real Estate
Reply to "Can you buy a house without a job?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My name isn't on the house. To buy him out, does that mean refinancing it in my name? If for some reason I can't buy him out, could he buy me out and I stay in the house as a renter? The other option might be renting a townhouse in a nearby school district, but then wouldn't he have to have the kids the majority of the school week to keep them in the same schools? Or do the schools not really care who has them as long as you can get them to school?[/quote] Here is another example (in MoCo). Husband was on the mortgage, wife gave up career to SAH. Divorce decree allowed her to stay in the home for 36 months (he continued paying the mortgage, electricity, and gas). She received child support. She went back to school for her masters, then began working. At the end of 36 months, she moved out, husband moved in. It's his house. By then she was ready to buy her own home.[/quote] That depends if home was bought pre or post marriage, wife's age and length of marriage. No way a 20 year marriage of a SAHM when house was bought jointly gets that deal. A 55 year old SAHM who left workforce for good at 30 is not the same as a 40 year old SAHM who left work force at 35. The 55 year old will never replicate her lifestyle. Also make sure Dad pays 100 percent the kids college!![/quote]
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