Leaving an abusive home: How to protect your assets when you fear for your safety but rely on the ownership interest for your financial future. Q: I pay half the mortgage on the home that I own with my boyfriend. I live there with him and our son. The title of the house is in [...]
If I get divorced and then sell my home, can I still take the $250,000 tax exclusion? The answer depends on a few basic factors the IRS uses to see if you qualify. Q: If I get divorced but still live in the marital residence along with my ex-husband, when we sell the property, do [...]
Buying your spouse out of the house is not unusual, but take some consideration before getting a loan do so. Q: My ex-husband wants money before he signs the house over to me. We have no mortgage on the home. I’d like to know if I can take home equity loan just to pay him [...]
My ex has a home equity line of credit on my home. Now what? First step is to talk to your divorce lawyer before making any more real estate deals. Q: I have a house that is paid off that I own in my name only. My soon to be ex-husband has an equity line [...]
Ex-spouse uses home equity line of credit. If you didn’t change the name on the account during the divorce, they could be using your HELOC, and hurting your home’s worth in the process. Q: Can my ex-husband refinance our home equity line of credit (HELOC) without my consent? I have a signed quit claim deed [...]
7 big life events that might impact your taxes. How big life events like getting married, having a baby and inheriting money might impact your taxes. The IRS opens for business next week, and millions of Americans will start filing their federal and state tax returns. Online tax software companies guide you through the tax-filing [...]
There are friendly and not-so-friendly divorces. But if your ex-spouse can't pay the mortgage because he lost his job, should you step forward and offer to pay off the remaining amount and give him the house just to be completely done? What's the price of being done? What would you do? Q: I have been [...]
During a divorce, it helps to stay objective. An emotional attachment to your assets isn’t always worth the financial burden of fighting to keep them. Q: I am a 60-year old female with a part-time minimum wage job and I just got served papers for the dissolution of a 17-year marriage. We have a beautiful [...]
After divorce, your capital gains tax burden on the sale of a property owed with your ex-spouse can be difficult to determine. Q: I separated from my husband five years ago, was divorced four years ago. As part of the divorce decree, he was to live in the house until both of our children went [...]
After gaining an investment property from a divorce, this reader asks whether it's better to sell the house or continue to rent it to cover expenses. Q: I got divorced last year and from the divorce, I got a house in California. The value of the house is about $600,000. I owe about $250,000 on [...]
