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temeculaguy
ParticipantIt is not a police code and it’s origin is nothing other than some high school kids made it up because that is the time of day they would meet to smoke back in 1971. Shockingly it was in Northern California, San Rafael to be exact. Like most doper legends, the story drifts from the truth over time and few of the people that use the term know it’s true origin.
http://www.snopes.com/language/stories/420.asp
Wiki even credits it on the city page, I bet that makes the city elders so proud.
ParticipantIt is not a police code and it’s origin is nothing other than some high school kids made it up because that is the time of day they would meet to smoke back in 1971. Shockingly it was in Northern California, San Rafael to be exact. Like most doper legends, the story drifts from the truth over time and few of the people that use the term know it’s true origin.
http://www.snopes.com/language/stories/420.asp
Wiki even credits it on the city page, I bet that makes the city elders so proud.
ParticipantIt is not a police code and it’s origin is nothing other than some high school kids made it up because that is the time of day they would meet to smoke back in 1971. Shockingly it was in Northern California, San Rafael to be exact. Like most doper legends, the story drifts from the truth over time and few of the people that use the term know it’s true origin.
http://www.snopes.com/language/stories/420.asp
Wiki even credits it on the city page, I bet that makes the city elders so proud.
ParticipantLast thing, if she buys you out, do not sign a claim deed, that only gets you off the deed but not the loan, so when she loses the house or misses payments, which is likely, your credit goes with it and you have no power to sell or do anything, it isn’t your house, just your debt, oldest trap in the book. She may try to get you to sign so she can refi and get the cash to buy you out, only sign with the actual refi lender, they have the forms and do it simultaneously in escrow, there is no need to deed it to her before hand. I wouldn’t mention it if I didn’t have buddies who fell for it. I am not sure how they all figure these things out but they either have secret meetings or there are manuals only available in the women’s bathroom, either way, switch to legal websites soon. “Marriage is grand, divorce is 40 grand.”
ParticipantLast thing, if she buys you out, do not sign a claim deed, that only gets you off the deed but not the loan, so when she loses the house or misses payments, which is likely, your credit goes with it and you have no power to sell or do anything, it isn’t your house, just your debt, oldest trap in the book. She may try to get you to sign so she can refi and get the cash to buy you out, only sign with the actual refi lender, they have the forms and do it simultaneously in escrow, there is no need to deed it to her before hand. I wouldn’t mention it if I didn’t have buddies who fell for it. I am not sure how they all figure these things out but they either have secret meetings or there are manuals only available in the women’s bathroom, either way, switch to legal websites soon. “Marriage is grand, divorce is 40 grand.”
ParticipantLast thing, if she buys you out, do not sign a claim deed, that only gets you off the deed but not the loan, so when she loses the house or misses payments, which is likely, your credit goes with it and you have no power to sell or do anything, it isn’t your house, just your debt, oldest trap in the book. She may try to get you to sign so she can refi and get the cash to buy you out, only sign with the actual refi lender, they have the forms and do it simultaneously in escrow, there is no need to deed it to her before hand. I wouldn’t mention it if I didn’t have buddies who fell for it. I am not sure how they all figure these things out but they either have secret meetings or there are manuals only available in the women’s bathroom, either way, switch to legal websites soon. “Marriage is grand, divorce is 40 grand.”
ParticipantLast thing, if she buys you out, do not sign a claim deed, that only gets you off the deed but not the loan, so when she loses the house or misses payments, which is likely, your credit goes with it and you have no power to sell or do anything, it isn’t your house, just your debt, oldest trap in the book. She may try to get you to sign so she can refi and get the cash to buy you out, only sign with the actual refi lender, they have the forms and do it simultaneously in escrow, there is no need to deed it to her before hand. I wouldn’t mention it if I didn’t have buddies who fell for it. I am not sure how they all figure these things out but they either have secret meetings or there are manuals only available in the women’s bathroom, either way, switch to legal websites soon. “Marriage is grand, divorce is 40 grand.”
ParticipantLast thing, if she buys you out, do not sign a claim deed, that only gets you off the deed but not the loan, so when she loses the house or misses payments, which is likely, your credit goes with it and you have no power to sell or do anything, it isn’t your house, just your debt, oldest trap in the book. She may try to get you to sign so she can refi and get the cash to buy you out, only sign with the actual refi lender, they have the forms and do it simultaneously in escrow, there is no need to deed it to her before hand. I wouldn’t mention it if I didn’t have buddies who fell for it. I am not sure how they all figure these things out but they either have secret meetings or there are manuals only available in the women’s bathroom, either way, switch to legal websites soon. “Marriage is grand, divorce is 40 grand.”
ParticipantJust thank your lucky stars that there are no kids involved, it’s just money. With regards to your comment about not knowing if your spouse will have to pay her share of the mortgage until the market turns around, the answer is NO! Get an honest appraisal from a real appraiser not a realtor, and if you can avoid getting a lawyer (by that I mean she doesn’t get one either) then use a paralegal, draft a marriage settlement agreement, and divide the assets. The diference between the appraisal and the loan is the value of that asset, lets say it has a value of 100k and you have another asset worth 100k, you each take one. It is better to refi and remove the other party’s name from the loan or get your lender to remove it which they probably won’t so you are stuck with a refi. You can buy her out or she can buy you out if the house has equity and that is all there is. I know at least 20 people who have gone through a divorce in recent years and not one person who bought the other out and kept the house is happy with their decision (including very recent ones) for quite a few it has been their undoing. My actual advice, list it yesterday for an agressive 20-50k below any recent comp, make it go away, divide the cash, get the divorce done sooner than the end of the year and start over. Go rent for a year or two and then buy back in when the market is worse. If you buy her out you are doing nothing more than buying today and I don’t think anyone here would advise you to do that in your area right now. Another tip, if you don’t sell, the appraisal you get today is worthless in 60 days, don’t base the MSA on an appraisal unless the ink on it is still wet.
ParticipantJust thank your lucky stars that there are no kids involved, it’s just money. With regards to your comment about not knowing if your spouse will have to pay her share of the mortgage until the market turns around, the answer is NO! Get an honest appraisal from a real appraiser not a realtor, and if you can avoid getting a lawyer (by that I mean she doesn’t get one either) then use a paralegal, draft a marriage settlement agreement, and divide the assets. The diference between the appraisal and the loan is the value of that asset, lets say it has a value of 100k and you have another asset worth 100k, you each take one. It is better to refi and remove the other party’s name from the loan or get your lender to remove it which they probably won’t so you are stuck with a refi. You can buy her out or she can buy you out if the house has equity and that is all there is. I know at least 20 people who have gone through a divorce in recent years and not one person who bought the other out and kept the house is happy with their decision (including very recent ones) for quite a few it has been their undoing. My actual advice, list it yesterday for an agressive 20-50k below any recent comp, make it go away, divide the cash, get the divorce done sooner than the end of the year and start over. Go rent for a year or two and then buy back in when the market is worse. If you buy her out you are doing nothing more than buying today and I don’t think anyone here would advise you to do that in your area right now. Another tip, if you don’t sell, the appraisal you get today is worthless in 60 days, don’t base the MSA on an appraisal unless the ink on it is still wet.
ParticipantJust thank your lucky stars that there are no kids involved, it’s just money. With regards to your comment about not knowing if your spouse will have to pay her share of the mortgage until the market turns around, the answer is NO! Get an honest appraisal from a real appraiser not a realtor, and if you can avoid getting a lawyer (by that I mean she doesn’t get one either) then use a paralegal, draft a marriage settlement agreement, and divide the assets. The diference between the appraisal and the loan is the value of that asset, lets say it has a value of 100k and you have another asset worth 100k, you each take one. It is better to refi and remove the other party’s name from the loan or get your lender to remove it which they probably won’t so you are stuck with a refi. You can buy her out or she can buy you out if the house has equity and that is all there is. I know at least 20 people who have gone through a divorce in recent years and not one person who bought the other out and kept the house is happy with their decision (including very recent ones) for quite a few it has been their undoing. My actual advice, list it yesterday for an agressive 20-50k below any recent comp, make it go away, divide the cash, get the divorce done sooner than the end of the year and start over. Go rent for a year or two and then buy back in when the market is worse. If you buy her out you are doing nothing more than buying today and I don’t think anyone here would advise you to do that in your area right now. Another tip, if you don’t sell, the appraisal you get today is worthless in 60 days, don’t base the MSA on an appraisal unless the ink on it is still wet.
ParticipantJust thank your lucky stars that there are no kids involved, it’s just money. With regards to your comment about not knowing if your spouse will have to pay her share of the mortgage until the market turns around, the answer is NO! Get an honest appraisal from a real appraiser not a realtor, and if you can avoid getting a lawyer (by that I mean she doesn’t get one either) then use a paralegal, draft a marriage settlement agreement, and divide the assets. The diference between the appraisal and the loan is the value of that asset, lets say it has a value of 100k and you have another asset worth 100k, you each take one. It is better to refi and remove the other party’s name from the loan or get your lender to remove it which they probably won’t so you are stuck with a refi. You can buy her out or she can buy you out if the house has equity and that is all there is. I know at least 20 people who have gone through a divorce in recent years and not one person who bought the other out and kept the house is happy with their decision (including very recent ones) for quite a few it has been their undoing. My actual advice, list it yesterday for an agressive 20-50k below any recent comp, make it go away, divide the cash, get the divorce done sooner than the end of the year and start over. Go rent for a year or two and then buy back in when the market is worse. If you buy her out you are doing nothing more than buying today and I don’t think anyone here would advise you to do that in your area right now. Another tip, if you don’t sell, the appraisal you get today is worthless in 60 days, don’t base the MSA on an appraisal unless the ink on it is still wet.
ParticipantJust thank your lucky stars that there are no kids involved, it’s just money. With regards to your comment about not knowing if your spouse will have to pay her share of the mortgage until the market turns around, the answer is NO! Get an honest appraisal from a real appraiser not a realtor, and if you can avoid getting a lawyer (by that I mean she doesn’t get one either) then use a paralegal, draft a marriage settlement agreement, and divide the assets. The diference between the appraisal and the loan is the value of that asset, lets say it has a value of 100k and you have another asset worth 100k, you each take one. It is better to refi and remove the other party’s name from the loan or get your lender to remove it which they probably won’t so you are stuck with a refi. You can buy her out or she can buy you out if the house has equity and that is all there is. I know at least 20 people who have gone through a divorce in recent years and not one person who bought the other out and kept the house is happy with their decision (including very recent ones) for quite a few it has been their undoing. My actual advice, list it yesterday for an agressive 20-50k below any recent comp, make it go away, divide the cash, get the divorce done sooner than the end of the year and start over. Go rent for a year or two and then buy back in when the market is worse. If you buy her out you are doing nothing more than buying today and I don’t think anyone here would advise you to do that in your area right now. Another tip, if you don’t sell, the appraisal you get today is worthless in 60 days, don’t base the MSA on an appraisal unless the ink on it is still wet.
ParticipantSD, I couldn’t agree with you more, this is pivot point but the next thirty days the media will come out with some good numbers because the numbers are always behind a month, this time last year things started to change and R/E threw in the towel about August, it will be interesting to see what happens.
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