About Equality in Marriage Institute Expertise As a non profit organization commited to assisting and supporting men and women through their divorce transition, we will answer any questions -from how to get yourself on your feet after being served with divorce papers, questions to ask your lawyer, how to appeal or modify your judgement and the different ways to end your marriage to how to empower and care for yourself, the benefits of joining a support group and how to manage your divorce process. Please note that we are not lawyers, financial advisors or therapists. The information given is intended to provide you with direction towards resources, websites, and answers that can help you through your transition.
Experience We have experience answering hundreds of questions from both men and women who are going through the divorce process.
Expert: Equality in Marriage Institute - 1/16/2006
Question my husband and I are amicably divorcing through mediation. We've agreed that we should sell the house because for me to buy him out, it would be too much for me to keep it, after going throught the refinancing. what if I pulled a home equity loan to pay him off? I don't want to have to sell it anymore, the children are devastated.
Answer Dear Kim,
Thank you for your patience. I was out of town and I let Allexperts know (I see they did not post that I was). It is admirable for you want to keep the house, it maybe however a very expensive and ultimately impossible option. A house has several costs (taxes, upkeep, utilities, repairs, etc.) You may be best served by speaking with a loan officer or your accountant about your obtaining a home equity loan. If you can do it, great. If you can't (meaning it would put you in the financial hole for many, many years - is their college, school trips or braces in your future) at least you know you tried every option.
Children are affected by divorce, even under the most amicable of divorces. Check out the web for websites for children of divorce- perhaps there are chat rooms where they can get some support. Or, perhaps going to a counselor, either with you or on their own would be beneficial.
Sites to check out: equalityinmarriage.org, divorcesource.com, info4parents.com and divorcemag.com
