Divorce buyout advice

[Valdemar Espino]

Hello BP community. My parents own a duplex in the Los Ángeles area and they are currently going through a divorce. My mother wants to keep the house and my father is willing to accept cash in exchange for his share in the property. I tried to help her refinance and take some of cash out, but I have too many student loans which will raise the mortgage dramatically. Is there any other route we can take? Maybe a hard money lender? 

[Account Closed]

Ask them to take a Chill Pill, put any bitterness and money issues on the sideline until the dust settles and don't let money cloud their lives.

It is very difficult to acquire properties and simple to dump them for pennies on the dollar. I got divorced two times, owner a significant amount of properties and I gave my ex-wives far more than 50% of everything. I paid my wives about 4 times what the courts awarded for alimony and child support. The reasons I am generous is because I find it to be super difficult to love someone and then hate them. I also strongly believe they don't take Travelers Checks where we all end up.

Ask your parents to co-own the property and to share the benefits just like they had planned to share the benefits when they were in their honeymoon periods. If they sell, both parties most-likely lose. If they keep the property, both parties most-likely benefit. If it is seriously critical that one needs cash then maybe the other could make small payments with no interest.

I divorced my 2nd wife in 1999 (or something like that). She was on drugs and the judge gave me all my properties, but he gave her $240,000 and told me to keep the $240,000 and pay her a little at a time. So, I took the money, invested it for her and she has been receiving $2,000 per month since about 2001, $4,000 per month for the past two years and she netted about $2.4 million from appreciation. Then, for a Christmas present, I gave her a $1 million house because she got off her drugs and that is how I think people should treat each other after they've been married and done their thing so many times. We can't take a house nor the money with us when we leave this planet and as long as I have one meal a day and a dry cardboard box to sleep in I don't worry about material things nor money.