Real Answers for Life’s Money Challenges
My husband and I have been married for almost seven years.
Two and a half years ago we bought a house.
We live in New York.
Can I make him leave if things dont work out?
We are having some major issues.
-Credit Challenged
Dear Challenged,
I cant predict who would get what if you divorced.
An advice columnist is no substitute for an attorney.
So if youre seriously considering divorce, you should probably talk to an attorney whos licensed in New York.
Obviously, if youre listed as a co-owner, that bolsters your case.
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Most states, including New York, use equitable distribution in divorce.
That means a judge would attempt to divide assets fairly between the two of you.
The court will consider a number of factors in dividing the homes equity.
The fact that youve made the mortgage payments would likely carry some weight.
We dont have a crystal ball to predict whether youll be able to work out your marital problems.
So I think you should prepare for the worst.
Even if you do stay together, obviously you wont regretboosting your credit score.
No Interest Til Almost 2027?
Focus on making on-time payments and avoid charging more than 10% of the limit.
Now is also a good time to assess your budget.
A lot of people stick around in relationships that arent working because they cant afford to leave.
you’re free to focus on your marriage and whether its worth saving.
Robin Hartill is a certified financial planner and a senior writer at The Penny Hoarder.
Send your tricky money questions to[email protected].
Did you know?
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
