I Have A Financial (Divorce-Related) Dilemma - Need Advice

[ABM]

I have a friend with a few houses around here and he lease/optioned his.

That's what I'm gonna be shooting really, really hard for. Granted, I'll have to become a business partner with the ex-wife, but I think it will be worth it for us.

One other thing I forgot to mention is that there's a balloon payment due (October 2011) on the HELOC of that home. We "may" decide to just go ahead and pay that ($42,000) off out of the IRA during the divorce settlement. At least we won't be charged that 10% early withdrawal penalty if we do it that way. Also, in doing so, it will immediately put us in a positive equity position. We would split those earnings upon the sale of the house.

 

[Paxil]

That's what I'm gonna be shooting really, really hard for. Granted, I'll have to become a business partner with the ex-wife, but I think it will be worth it for us.

One other thing I forgot to mention is that there's a balloon payment due (October 2011) on the HELOC of that home. We "may" decide to just go ahead and pay that ($42,000) off out of the IRA during the divorce settlement. At least we won't be charged that 10% early withdrawal penalty if we do it that way. Also, in doing so, it will immediately put us in a positive equity position. We would split those earnings upon the sale of the house.

I went through a divorce and had to pay off a $10,000 credit card that wasn't really mine (wife had it before we were married) and also $5,000 to refinance house in my name. I took it from my 401K... but it was right when the stock market was exploding and I lost a considerable amount out of my retirement. The only positive note is that the house that was worth nothing at the time of divorce, sold for over 100,000 more about a year or so later because of the housing boom. Karma. Oh... and work granted me a bunch of stock the day after my divorce was final that made up for the 401K mistake.