What's New Today pt2

[CanBird]

Throw out the sample rough math again. How much equity is there in the property? (Sales price minus realtor fees and other costs of selling minus the balance owed on the mortgage). How much is the monthly mortgage payment (principle, interest, property taxes and insurance) and the income from the tenant? How much monthly mortgage payment or rent could you reasonably afford?

Also - how secure is your child support? If he moves to EU and decides not to pay will you have no recourse? Now that you have a job could you afford to pay the mortgage if you use the income from the tenant? Some people negotiate to stay in the house until the child is 18 and then sell and split the profit, with the person residing in the house either paying the mortgage payment in lieu of rent, or paying what rent would cost and splitting other expenses. Granted most with this agreement do not have such young children.

I’d tell him you are looking into the practicality of various options and will get back to him. Then if you decide you can and want to buy him out, make him a lowball offer and see if he’ll take it (he may be so anxious to party with OW that he takes it).

I have plugged in the numbers before. My wages are eaten up buy child care, bills for 2 properties and basics like food and gas for the car. I often think about BIG things that could go wrong with either property. At least the rental is rented at the moment with someone that has steady income.

The question of secure child support is a good question. He's behind by 1 month. I've inquired, not directly, but thanked him for setting it up, and expressed how important it is that it goes in monthly to help cover D4's basic needs and child care. I should not have to have these conversations with him, it's sad.

I have not said anything to him regarding my plans. I'm leaning more towards moving, as I don't think I can handle things here. I have not yet talked with a mortgage broker, so I don't really know, but I'm low income, work part-time and have only work for just over 2 months. Still in that 90 day probation period. Everyone's hours just got reduced because of the not busy enough, and we're closing for the holidays for a bit too.

But yes, I plan on saying nothing until I have to, and like the idea of saying "Looking into my various options". Although I do wonder if I should ask him what his idea of buying him out looks like? Or should I just be the one to throw out a number to him?

Either way, easy move for him. He packed is clothes and left everything else behind. As if he doesn't already have a place. Give me a break. He'll have 2 places I bet, One will be a small place, just so he can have an address in the US somewhere, probably AK, for tax purposes. And the other will be with OW in her country or somewhere else in the EU.

The truth is out there, but only he knows. And maybe his brother.