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Challenges in Relieving a Spouse of Debt...the most common question

Today’s question comes from the awesome Lori Dally (lori@yourtexasfamilylawyer.com) of the great Seltzer & Dally Question: Hey Noel: Hope you are doing well! I had a quick question I was hoping you could answer for me. I have a client who's wife's name is solely on the mortgage. He is wanting to keep the house, […]

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Q&A: When Does an Owelty Have to be Filed? or How Wrong Can a Judge Be?

To one of Texas’s finest family law attorneys I wrote: (I share this first paragraph just to dispel the persistent, perennial and pervasive myth that I am perfect and make no mistakes). You had sent an email inquiry a few weeks ago. I responded....I think. But, I have had some serious technical difficulties (just about […]

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Q&A Number Next: How Do Divorce Buyouts Work in The Other States (Other Than Texas)?

It's kind of a joke here in Texas - we think we're our own country. Our unique equity lending laws are illustrative. No other state regulates equity lending as does Texas. Seriously, Texans for the most part are great Americans. I've been here almost 18 years now and I'm having a great time. But, there […]

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Q&A #6: Should I Release an Owelty Lien Before It's Paid? My Client's Lender Says She Should

Noel: I was given your contact information from J.M., another attorney in our office. I have a question regarding VA loans and an Owelty Lien. I represent Wife. Wife was awarded approximately $113,000 in cash by May 31, 2017. Husband was to pay this money from a cash out refinance. We are being told by […]

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Q&A #5: Differences between Ownership Interest, Credit Obligations and Debt Ratios in Divorce-Lending

...and that's the short title. Sounds like the title to one of those long, boring articles in an obscure economics journal, eh? But, you divorce lawyers and divorcing clients will likely know exactly what I’m talking about. Here’s real time solutions on a case I received a couple of days ago. The facts Husband in […]

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Q&A #4: Does a Divorcing Homeowner Need an Equity Loan to Buy Out a Spouse?

A Family Law Attorney writes: QUESTION Noel, I have a divorce matter where the parties have about $100,000.00 in equity.  I need to get a home equity to buy the wife out, or at least have an option to negotiate. Can you help? ANSWER: Don’t Use Equity Financing or “Cash Outs” for a Divorce Buyout […]

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Q&A #3: How Do you Split Out Encumbered Property in a Settlement?

QUESTION: One of Texas’s finest attorneys in McKinney called to ask about how one of his clients could sell part of a 100 acre tract of land to his soon-to-be ex-spouse. Client’s wife was to receive 16 acres unencumbered. But, there was a mortgage on the entire 100 acres. How does such a transaction get […]

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Q&A #2B: Does Equity Financing Diminish a DEMANDING Ex’s Portion of Equity?

Refer to the blog immediately before this one. Here it is: Q&A #2A: Does Equity Financing Diminish a Ex's Portion of the So-Called Equity Now, pick up the email conversation. Question Hi Noel Thank you for answering! We live in Indiana. The lender says that the extra 20% stays in the home as you described. […]

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Q&A #2A: Does Equity Financing Diminish a Ex's Portion of the So-Called Equity

This question was asked  by a consumer...but, it is very similar to questions asked by family law attorneys all the time. It will address property's accessible equity, divorce and equity buyouts in Texas and other states as well. There are multiple parts to this question and answer...so, there will be parts A, B, etc. Question: […]

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Q&A #1: Will a Deed of Trust to Secure Assumption Remove Liability?

This begins a short series (a dozen or so) of questions I have received recently from family law attorneys. I figure the best way to answer questions that you have is to....well, answer actual questions you have asked. Here's an actual but common one: Q: I am in an interesting debate with opposing counsel and […]

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