Our house is underwater . I am guessing it is worth at least 70,000 less than we owe.
20,000 in Credit card debt -( he is trying to say it is all mine - cards are in both names personally not business - while alot of charges in beginning were used for business , he worked with me in business and was aware and supportive of all charges made and when things got bad financially business purchases ( product ) were made and monies rec’d from job , monies were used to keep house afloat rather than pay back on cards .He was aware of this and paid on the one card . Cards were also used to pay bills for house , buy food . We paid minimum balances only and eventually stopped all payments to save house .)Would this fall under marital debt ?
cars -husbands is worth more than mine ( about 4000. )
he has 4000 in 401 K
about 1000 lump sum in pension
no savings - the rest is household, furniture etc.
he grosses about twice as much as me with his hidden income . - he did document on loan mod paperwork but has never included business on tax returns
Can I expect alimony ?
How do you divide debt and still keep house ?
How can one person keep the house ? Can I ? How would this look on the ED ?
Note is in my name - my credit is shot because of falling behind in mortgage and ccs . just got Loan modification , I could keep house afloat . I dont have to worry about refi as I already was approved for loan mod - but would struggle to get a lease elsewhere as I am self employed and credit is shot .
I would love to keep house long enough to build some assets , for son to adjust to breakup and keep as much of his life normal ie friends , school etc He has just been diagnosed with ADD so normalcy and routine are what is best for him . I love his teachers . I am his primary caretaker and feel keeping the house would be beneficial at least during the year separation
Is this even possible to keep house at this point or a losing battle and I should just rip the bandaid off so to speak in regards to my son
I am still hoping my husband will change his mind and want to work on relationship .