I’m divorcing after 34 years of marriage. We’re 3 years away from paying off the house. The house is our largest asset followed by a pension. I’m considering a buy out. Does it make more sense to continue paying the current mortgage and to take out a home equity loan for the amount needed to pay my spouse their share of the equity? Is it better to take out a larger home equity loan and do something else with the additional cash? The house is my only debt. My gut says not to take on debt. I don’t want to miss an opportunity to capitalize on the equity, though, if housing prices drop significantly.
Submitted October 02, 2023 at 09:22PM by likespeopleandbooks https://ift.tt/cmvljit
