I am considering the Deed in lieu of foreclosure option but I have a Home equity line of credit on my house. Is this something that can still be done? BTW I live in Florida if that has any bearing on the answer.
Thanks in advance for any advice
Posts Tagged ‘bearing’
Can new spouse's income/assets be considered in calculating child support or arrearages in California?
Thursday, October 22nd, 2009I am the "new spouse" of a man who’s ex (partner, never married till me) BEGAN child support orders in family court in San Jose, California. He was unemployed at the time and had no income or assets to report on which the court could calculate child support. The ex- started this petition before he and I were married. I bought a house before he and I were married where we both live now. He has been unemployed for 4 years (this is another blog) and his daughters visit nearly every weekend and on vacation time. I think she may have never followed thru on the petition because he never received notice of anything, so I have a few questions, all inter-related:
1. Does the child support order stand because she started it and it is registered with the courts, even if there was never a court date they both attended and where an amount would have been declared by the judge? In other words, is he "screwed" because the child support petition already entered the system?
2. Are arrearages accumulating regardless of whether he OR SHE continued with the process and there was no declaration made by the court?
3. Can the court (or the ex) have my wages garnished?
4. Can the court (or the ex) have my income considered in calculating HIS child support debt – future or past?
5. Can the court (or the ex) take any action against my assets, mainly the house I bought before he and I were married?
6. I read somewhere that the courts could possibly go after HIS HALF of our community property. Would that apply here if the house was something I purchased on my own (loan and title are only in my name) before I even met him?
7. Would a post-nuptual agreement between he and I (he is VERY supportive of his ex not being able to get to my assets or income) be a good idea given the facts and chronology of events?
8. Does the fact that he is unemployed and I am his sole support have any bearing on this question?
9. Would he and I divorcing do the situation any good (we really would like to stay married, but WOULD divorce to avoid this happening; my prospects for our financial success as a couple are greater than his in general – that’s another blog)
10. How does it factor in that we are almost certain the ex applied for welfare since their separation and she claimed the father is MIA, that he is completely absent from their lives, which is a complete untruth?
11. I asked about my house earlier: IS the house even considered community property if I purchased in my name alone BEFORE we were married?
12. What about other assets like vehicles? What about the smaller stuff like all of my personal property (high-end furniture, jewelry, TV’s, electronics, etc.) Can they go after that (seize and auction like with the drug dealers?!), or use as a basis to calculate value of my worth?
13. If all of this is true and she CAN go after my things, what if my house is currently upside down? What it behoove us to file the petition RIGHT NOW so that the negative property value be taken into consideration? Or would it all be re-visited periodically by the courts to see if the house value increased and there is now equity to tap into?
Any suggestions or legal facts based on valid legal knowledge would be highly appreciated, doesn’t have to be a lawyer, but a lawyer’s response for CA Law is preferred. I am working on seeing a lawyer but cannot afford it right now. My middle-class income won’t qualify me for assistance, and I’m doing my best to protect myself before 10 years go by and suddenly my home equity is garnished to pay for children who aren’t even mine! I care about them, but I didn’t bring them into the world…it shouldn’t be my responsibility EVER, but not sure how screwed up California courts could be on the variable factors of this topic.
Thanks.
What’s best for us…Home equity Loan or Line of credit?
Sunday, July 19th, 2009We would like to do several home improvement projects and pay off some credit cards. The HELOC option seems to be more appealing to us so we take only what we need yet getting a loan gives us the option to hold the funds in a high interest bearing savings account (4.50 APY). How do I know what is right for us?
Related ‘bearing’ sites :
| Bearing (mechanical) - Wikipedia, the free encyclopedia A bearing is a device to allow constrained relative motion between two or more parts, ... Bearings may be classified broadly according to the motions they ... en.wikipedia.org/wiki/ | |
| Bearing (navigation) - Wikipedia, the free encyclopedia In marine navigation, a bearing is the direction one object is from another object, usually, the direction of an object from one's own vessel. ... en.wikipedia.org/wiki/ | |
| bearing: Definition, Synonyms from Answers.com bearing n. The manner in which one carries or conducts oneself: the poise and bearing of a champion www.answers.com/topic/bearing | |
| Bearing: Deep Groove Ball Bearing, Miniature Ball Bearing ... China Bearings manufacturer & Exporter, produce Deep Groove Ball Bearing, Slewing Bearing, Roller Bearing,wheel bearing, thrust bearing, needle bearing. ... www.bearing-fastener.com | |
| Bearing - Definition and More from the Free Merriam-Webster ... Definition of bearing from the Merriam-Webster Online Dictionary with audio pronunciations, thesaurus, Word of the Day, and word games. www.merriam-webster.com/ | |
| ball bearing: Definition from Answers.com ball bearing n. ( Abbr. bb ) A friction-reducing bearing consisting essentially of a ring-shaped track containing freely revolving hard metal balls www.answers.com/topic/ | |
| HowStuffWorks "How Bearings Work" Bearings are the invisible heroes inside many mechanical devices. Learn about all different kinds of bearings. science.howstuffworks.com/ | |
| eBearing - The world bearing industry's central site for news ... www.ebearing.com | |
| NTN BEARING CORPORATION OF AMERICA NTN, a world leader in the production of bearings, offers an extensive range of bearing types and sizes. NTN is recognized for its excellence in quality manufacture, ... www.ntnamerica.com/index.htm | |
| Bearing, ball bearing manufacturer and supplier--China NingBo ... Bearing manufacturer--China Ningbo KaiCheng Bearing Manufacturing Co.,Ltd. founded in 1988, It is specialized in manufacturing bearings and EMQ grade bearings. ... www.bearingcie.com | |