Bill Seward
Well-Known Member
I closed on the reverse mortgage to pay my hopefully soon-to-be-ex wife her half of the house. I'm keeping it. Probably won't ever move out of the place, that was our intention when we bought it 25 years ago. Eventually, the equity will dwindle to zero, but I have the right to live here till I die, even if it does.
I saw $1511.40 extra after closing, my years school tax ($800.00) will come out of closing costs, and there will be about $400.00 left over from the escrow which will refund to me in October. Also, escrow will pay off $150.00 of my homeowners insurance. So, I got about $2000 out of the deal. And yes, I am buying new locks as soon as the deed is recorded that she's no longer an owner of this place.
I ask her when she plans on filing for divorce, now that the financials are done. Her answer is "What's the big hurry? You got a girlfriend?". I did my part, didn't argue anything, and she got everything we agreed on. Now it's time for her to do her part.
As much as I wanted her back a few months ago, I want her gone more.
I saw $1511.40 extra after closing, my years school tax ($800.00) will come out of closing costs, and there will be about $400.00 left over from the escrow which will refund to me in October. Also, escrow will pay off $150.00 of my homeowners insurance. So, I got about $2000 out of the deal. And yes, I am buying new locks as soon as the deed is recorded that she's no longer an owner of this place.
I ask her when she plans on filing for divorce, now that the financials are done. Her answer is "What's the big hurry? You got a girlfriend?". I did my part, didn't argue anything, and she got everything we agreed on. Now it's time for her to do her part.
As much as I wanted her back a few months ago, I want her gone more.