Mobile Home Dilema After Divorce With Autistic Children. – Veronica

I am currently separated from the father of my children. We were married for 8 years and 11 months. We are getting a divorce; the situation has been prolonging due to the fact that we have two children who are Autistic.

We currently have a town home, which was bought after getting married, and both of us have 401 k, which were established prior to marriage.

We owe around 13,000.00 (credit cards used to pay medical bills). The proposed agreement he is suggesting is keeping the town home, and leasing it.

The town home needs many renovations, kitchen, three bathroom sinks; two bathroom flooring and painting (estimate $12,000.00). The town home is down under. I suggested we sell, and use the loss for tax purposes.

He suggested we invest, and wait for the market to pick up. I would like for him to buy me out of the town home and invest that money in a mobile home.

I would like to purchase a mobile home with three bedrooms, in the price range of $60,000 to $90,000, and rent out two bedrooms. It would give me a source of income, which I could use to make payments. Plus, I will be receiving child support.

I currently work 5-10 hours per week due to my children disability, but I am looking for a job that I could work around 20-30 hours a week when my children are in school. Plus, I am going to contact the credit cards a month or two before the divorce is finalized to make a payment plan for the $6,500.00, and make a plan to pay the debt with in three to four years.

The second option would keep the town home, and leases it. The town home would be sold when the market picks up. I would tap into my 401k, and use that money for a down payment for my mobile home. I am not sure how much penalty I would pay. Plus, I am not sure what period I have to pay the 401K.

See also  I Was Stuck With a Credit Card in My Divorce That I Can't Afford

Please advice as to what would be a good choice.


1 thought on “Mobile Home Dilema After Divorce With Autistic Children. – Veronica”

  1. Veronica,

    I’m so sorry to hear about the stress and hurdles you are going through. My first thought while reading your question was that you should use the public benefits finder calculator to discover what benefits might be available to help you.

    That may help you to make ends meet after the split.

    While there are many nice mobile homes, the concern is that most drop quickly in value unless they are in a remarkable location. A mobile home is typically not a great investment.

    Selling the townhouse may be difficult since it is underwater and in need of repair. You’d most likely have to do a short sale on it and get the lender to accept less than you owe for it. Check with a local real estate agent that has extensive experience in short sales and get an opinion if this might be possible with your property in its current state of disrepair.

    The most attractive option here would be for him to buy you out but since the property is worth less than you owe on it I’m not sure what he would offer to buy you out for. 

    One of the more logical approaches here would be for you to stay in the townhouse with your kids, make sure you are getting all the public benefits that you can, and look for additional income.

    It might be just my opinion but I can’t see renting out a room in a mobile home with a family as a tremendous revenue generator.


Leave a Comment