Cover The Second Mortgage Payment? Any Ideas That Work Quick Welcome
Q: 3 years before the divorce we opened our own business funded by a second mortgage on our home. The business grew dispite our problems. The final decree orders that funds from the business (the company pays us for its value in 12 equal payments) first repay the second mortgage and any additional profit be split 50/50. My spouse hid the first two payments and the company tells me a "Final divorce decree" is not recognizied to them as enforceable to redirect funds. My lawyer sent the company an IDO but they say they read it as the funds are to be split 50/50. This amount doesn't cover the second mortgage payment? Any ideas that work quick welcome.
A: Well, you think we're smarter than your lawyer, huh? Either the final decree says the funds first repay the second mortgage or it doesn't. Get a neutral (legal) third party to read it and see how they interpret it. Could be that the company is correct due to "loopholes".
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