Selling the House and Equity Loans
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Selling the House and Equity Loans
| Sat, 08-26-2006 - 10:13am |
I'm so confused and I need help fast!! I definitely can not be with my husband any longer. The problem is, we've only had this house for 2 years and we just recently refinanced and took out an equity loan to pay off our bills (mostly mine). The house, by the way is a 2family.
Basically, he's saying I'm stuck with him because we'll never sell the house for what we owe!
This can't be true!! Please someone tell me what happens in this situation?? By the way, we live in MA.
Basically, he's saying I'm stuck with him because we'll never sell the house for what we owe!
This can't be true!! Please someone tell me what happens in this situation?? By the way, we live in MA.

Sure, it is always possible to leave, but it may mean a very significant financial hit for you. I'm assuming if you took out a home equity loan, that plus the mortgage doesn't equal more than the house is worth...does it?
The best thing you can do for yourself is talk to an attorney. If I believed everything my ex said during our divorce, I'd be living in a cardboard box by the side of the road, paying back tens of thousands in debt! Don't panic until you get some legal advice. That would be your best first step.