I just wanted to see what ideas people had about this. To see if there are any new ideas that I never thought of.
Here it is Husband and wife filed a seperation agreement where husband gets one house and wife gets other. Wife’s house had 180k in equity Husband ends up with house that has 144k in equity. Both houses are under wifes name and divorce is not final. Wife signed a LLPOW (limted liability power of attorney) for everything except to release funds. Houses are less then 200yards apart and there is a restraining order in effect and wife sends husband to Jail almost weekly. Husband wants to leave the state and sell the house and just GO! House appraises at 210k
Wife calls me and wants to know how to screw him out of the money. I can’t stand this lady. What would you do? Hmmmm?
I will tell you what I did later. it is kinda like on who wants to be a millionaire and you say what you are thinking then use the 50/50 and it leaves you with the ones you said out loud so you screwed yourself as far as help.
Ok,now seriously…I would probably tell her to go F*** off. This is a bad situation for an investor to get into. Now even though the house is in her name and he is living in it, the divorce is not final and he maybe able to put a stake into the claim if its sold or really tie it up in court…
if it appraises @210 and she has 144 in equity then she owes roughy 66 right? buy it for 67 (so the hubby gets his share) refi to 100k keep the 33k then sel it for 200k then pay her 100k to come over and bang your buddy…lol
I have never dealt with crazy divorce couples but still can’t him steak his claim to the home and kill any deal if he wanted to in many ways. Her name is on the mortgage but its still a martial asset and a judge can make life tough for her if she sells and screws him…
I would agree with you. I am assuming they are in Colorado (thats where robb is) is it a communtiy property state, was there ever a prenup agreement etc.
john
John,
I love ya man you are learning! I owe you a diet coke!! LOL you are really close! Really what do you think Robb Did you know!
Peace,
Robb
Robb,
I’ll take you up on that diet coke. Friday cool with you
Who drinks DIET COKE…UGHHH…get some COCA COLA BLAK…if you drink enough…
But Robb…what did you do…give the details…
It became R Rated or better yet NC-17 when I found out the wife wants to screw over the ex hubby…
Alright alright here it is! He has a POW (Power of attorney) to let him sell the property right? RIGHT He sold the property to a “FRIEND” (yeah right) for the amount owed we double closed the property! I bought it for 210k Full aparised value RIGHT? Paid the other guy 70k that is 3k profit! AND WALKED WITH A CHECK FOR $136,497.41 NOT A BAD DEAL HUH!!!
By the way as a moderator! Watch the words used PLEASE!
Robb