# What should I do?



## strawbery (Aug 10, 2016)

Hi,
Sad to share this. After 10 long years of marriage, we are getting separated because he has another woman in his life now and he wants to be with her. We don’t have any kids. But the issue is, we have a joint mortgage on our condo. Our mortgage lender Private Lend, suggested that we sell the house and pay off the mortgage. But I really don’t want that to happen because I am really attached to this home and can’t really think of moving to another place. But he is insistent on getting the house sold. So I was thinking of getting a second mortgage with this condo. I think I’ll be able to afford it. I wanted to ask if this is a good idea? Or what else can be done? Please help.Thanks in advance.


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## poida (Jan 17, 2014)

Sorry to hear about your D.
If you can afford to buy it, why not?
Personally, I think the US economy is teetering on the edge of recession and when it does happen, property prices will fall dramatically.
Selling now might be the best financial decision you ever made, but sell it quickly.


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## straightshooter (Dec 27, 2015)

Strawberry

Affording the payments is not the only issue. You have to qualify for a new loan using only your income and therefore your debt to income ratio will come into play after you buy him out of the existing mortgage. 

You DO NOT want to sign any new mortgage documents with your soon to be ex husband still on the deed of the home you are in. That would mean you could sel;l it at some point without him also signing off on it.

I may have misunderstood your situation. If so, I apologize.

A good family attorney is something you should have by now.

And also do not be surprised if you husband comes crawling back at some point. Happens all the time when they realize the grass is not always greener somewhere else.

Sorry you are going through this situation.


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## 3Xnocharm (Jun 22, 2012)

NO don't get a second mortgage! There are other ways for you to keep the house, but you are going to have to buy him out of his share of any equity, and he will need to sign a quit claim deed, turning the house over to you. Then you can get a new mortgage without him on it. Can you qualify on your own?


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