What are some creative but reasonable and fair options that would allow her to stay in the house? For instance, I am wondering about refinancing the house in my name to remove her from the title and mortgage and then renting it to her. But I would either have to charge her reduced rent or pay her extra maintenance so that she could afford full rent at market value, and I would like her to be able to afford the house even after my maintenance payments stop.
- We live in Washington state.
- We've been married 15 years. I expect to pay maintenance for 3-4 years and expect total combined CS+maintenace to be $2000-3500
- Kids are ages 6-12
- House was bought in 2006 for $515k. Currently worth $390k on Zillow.
- Zillow estimates rent at $2180
- Title and mortgage are in both of our names
- Mortgage is $370k (95% LTV; $20k equity). Refinanced just 2 months ago at 3.75%. PITI = $2190
- My gross income = $12.3k/month
- She has had no income but just got a job that will start paying $2800/month gross after a 10-week training period
- We only have about $200k in other assets to split (my 401k mostly).
Appreciate any and all ideas.