My wife wants to divorce me and have me pay her mortgage for another house that she will live in, but I am concerned about how this affects my exposure to alimony.
Is it a bad idea for me to purchase this second house for my wife with my name on the loan if we were to later divorce?
How does the fact that I would be paying for two households affect any potential alimony payments?
I am unable to give you legal advice on divorce. I can give general divorce help for men, though, my knowledge is based on Missouri alimony laws where I am licensed to practice.
By obligating yourself to pay for a house that your wife is going to live in, you are setting a precedent with the court that you are comfortable paying for this and thus exposing yourself to a greater maintenance claim.
Alimony factors and amounts vary by states so please consult your state alimony laws.
By putting your name on the mortgage on a house that will be awarded to your wife, if your spouse misses a payment the delinquency will be reflected on your credit report regardless of what the divorce decree says. The mortgage is still in both names and will be reflected on both parties’ credit reports.
Plus, you cannot just remove your name from the marital home loan if you later divorce. The loan will have to be refinanced in order to remove your name from the note and mortgage. You cannot simple request that you or someone else’s name be removed from the loan.
Remember, I am unable to provide you with anything more than divorce tips for men, so please consult with a divorce lawyer in your jurisdiction.