[quote=bearishgurl][quote=frenchlambda]The problem is that at the time of divorce, there was only $10K of equity in the house (appraised value: $340K; balance on the loans: $330K). In other words, pretty much my entire contribution to the down-payment disappeared in the loss of value of the property after 5 years.
All that I got was the right to keep the little of equity in the condo.[/quote]
In essence, what you did here was agree to pay back the $200K (half of which was your ex’s debt) for $10K in “equity.” This is not even enough to pay a RE commission to a broker to sell it![/quote]
That’s how it seemed to me and doesn’t make any sense at all.
I say, let the condo go to foreclosure. Stop paying them. MUCH better to have a clean slate.
The child is very young, she will adapt easily and she will forget about it.
