Announcement

Collapse
No announcement yet.

Advice on getting new housing?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Advice on getting new housing?

    A few details:
    -separated late june 2014
    -cottage sold Dec 2014 - proceeds held in lawyer's trust due to no separation agreement
    -Dec 2014 - ex moves into new house (bought joint with new BF and with him as primary on mortgage)
    -since then I have had exclusive possession of matrimonial home and have worked non-stop on renovating to get ready for sale
    -it is ready to be listed any day
    -Ex has consistently stalled on negotiating SA (she walked out of mediation in Oct 2014). A complete draft SA was sent over 5 weeks ago to her lawyer with expected response date of 2 weeks - nothing received yet...who knows when this will actually move forward?

    I am hesitant to list the house now as theoretically it could sell and if I don't have a signed SA all proceeds would be held in lawyer's trust again...giving me $0 to put down on a new place. I have also just been informed by my broker that without a signed SA I can't get a new mortgage to fund either...I don't want to be in a situation where I am being financially leveraged to sign a crappy SA.

    I've even had a friend offer me $50k loan for a downpayment to get out from under her financial control - but the SA requirement for a mortgage to fund nixes that.

    I am at my wits end here. How do I move forward? Thoughts? All of this is so ironic as I am the parent working their posterior off, have covered all joint bills since sep., have paid an interim amnt of SS and CS AND somehow she's the one who decides to not work and manages to have a house ???

    SIGH

  • #2
    Originally posted by whyme? View Post
    A few details:
    -separated late june 2014
    -cottage sold Dec 2014 - proceeds held in lawyer's trust due to no separation agreement
    -Dec 2014 - ex moves into new house (bought joint with new BF and with him as primary on mortgage)
    -since then I have had exclusive possession of matrimonial home and have worked non-stop on renovating to get ready for sale
    -it is ready to be listed any day
    -Ex has consistently stalled on negotiating SA (she walked out of mediation in Oct 2014). A complete draft SA was sent over 5 weeks ago to her lawyer with expected response date of 2 weeks - nothing received yet...who knows when this will actually move forward?

    I am hesitant to list the house now as theoretically it could sell and if I don't have a signed SA all proceeds would be held in lawyer's trust again...giving me $0 to put down on a new place. I have also just been informed by my broker that without a signed SA I can't get a new mortgage to fund either...I don't want to be in a situation where I am being financially leveraged to sign a crappy SA.

    I've even had a friend offer me $50k loan for a downpayment to get out from under her financial control - but the SA requirement for a mortgage to fund nixes that.

    I am at my wits end here. How do I move forward? Thoughts? All of this is so ironic as I am the parent working their posterior off, have covered all joint bills since sep., have paid an interim amnt of SS and CS AND somehow she's the one who decides to not work and manages to have a house ???

    SIGH
    What is her incentive to move forward legally. She has everything and you have nothing.

    Force this to court.....

    What is the rush to sell the house? Can't you just live there - too expensive?

    Comment


    • #3
      well I don't know how much longer her BF is going to like paying for everything (he doesn't live there) while she is holding things up. Net proceeds from the cottage sale are significant and the mat. home is now mortgage free plus with me having to buy out her half of my pension she is looking at a ton of cash coming her way. I would have thought she'd be wanting it sooner than later...

      Listing the house ASAP was part of the SA but I now have the concerns noted above. I don't think I could refinance it based on the pension buyout and paying her half the equity. Plus the face the house she and her BF bought is 3 doors down the street - I do not want to have that in my face daily.

      Comment


      • #4
        I'd suggest doing what you can to give her the financial incentive to move forward. Make her want the money that's being held up.

        Is the interim SS court ordered? If not, stop paying it. Stop looking after joint expenses unless not doing so would hurt your credit. Close or freeze any joint bank accounts and credit cards.

        Maybe the friend willing to loan you $50k would help you rent an apartment for a while, or let you live in the basement.

        Comment


        • #5
          Thanks for the idea - I have asked my lawyer about stopping SS but continuing CS.

          Comment

          Our Divorce Forums
          Forums dedicated to helping people all across Canada get through the separation and divorce process, with discussions about legal issues, parenting issues, financial issues and more.
          Working...
          X