Legal Question in Family Law in Arizona
can I keep the home
My wife recently left me, moving in with her mother. We are upside-down on the mortgage for our residence, as well as upside-down on the mortgage for a rental property. I don't care what happens to the rental, but I would like to maintain ownership of the residence. She says I either take the full burden of the debt for both houses or I get neither. Can I convince the courts to let me keep the residence? Does the fact that she moved help my case? Does the fact that the mortgages are upside-down affect any considerations?
1 Answer from Attorneys
Re: can I keep the home
You are facing quite a few serious issues. First, you may want to consider other options for the rental other than letting it go, for examples: renting it or get a short sale. You should work with your lender on the primary - keep communication open - see if they have a program for you to maintain the mortgage. There are many other people in the same situation. If you go the litigation route, you will not get a quick answer on the house issue. However, you may want to consider a collaborative divorce - which gives you and your wife more control. See my website at www.collaborativepracticeaz.com.
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