Mortgage after divorce in maine


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I was making bigger payments on my credit cards, but the interest rates were so high that my progress on the balances was very slow. The credit counseling service helped me consolidate my credit card payments and get a lower interest rate on most of my cards. In addition to making my credit card payments to the counseling service each month, I had to speak with a counselor each month.

Every time I spoke with a counselor, he or she was encouraging and supportive. When I called to make my last payment, my counselor told me repeatedly to be proud of myself and to move forward a different person. And, for the first time, instead of feeling shame about myself and money, I felt proud. One struggle that was most significant for me was overcoming the notion that I had to buy my children things for them to be happy and for me to be a good mom.

My childhood background played a big role in this. I talked to both of my sons about how things they wanted added up financially. My oldest did well with this, but my youngest struggled. I explained to him that the toys that end up broken and in the trash end up in landfills. I found pictures online of landfills, and I showed them to him.

What to do If You Can’t Make Your MaineHousing Mortgage Payment

This was a good step for him. It was difficult for me to train myself to shop logically instead of emotionally. To address this struggle, I developed a six-month rule. If I saw something online or in a store I really liked or needed for myself or someone else, I would put it in a file and then wait six months.

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In six months, if I still wanted or needed that item, I would consider purchasing it — but not before the six-month wait. It had never occurred to me to monitor my credit score. I think I had not wanted to think about, but checking my credit score regularly forced me to think about it. My new husband mentioned it as a way to help me become more aware of part of my financial health, and it worked well. Monitoring my score made me more aware and also gave me the opportunity to celebrate my progress, my little victories.

When I hit , I thought that was about as high I would ever see. When I hit , I did a little happy dance in the kitchen. Today, it feels like that phone call with the mortgage broker happened to another person. I have a great credit score, savings, and am even making a little dent in my student loan debt. The process took work, but over time I realized that as I was improving my credit score, I also was improving my relationship with money. And, in all of this journey, I have learned that if I spend less, I can actually work less. This means more time with my family, and that makes me happier than anything I could possibly buy.

To subscribe to the magazine, click here. Have feedback? Want to know more? Send us ideas for follow-up stories. More from BDN. November 08, By failing to attach any legal significance to the form of ownership and focusing solely on the exception for maintaining a separate estate, we withheld the remedial power of equitable division. The wife in Young urged us to adopt the"transmutation" doctrine from community property jurisdictions, whereby either spouse can "transmute" separate property into marital property by "an exercise of actual intention objectively manifested.

We declined to apply the doctrine in Young on technical grounds the parties could not have intended to create marital property because it was acquired before the marital property statute went into effect. The trial court declined to characterize the property as marital or nonmarital and let the form of ownership control the disposition of the property. The wife appealed, arguing that the court failed to fulfill its statutory duty to "set apart" her separate interest in the property.

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We reaffirmed the principle announced in Young that "to the extent the real estate had been acquired in exchange for property of either spouse acquired prior to marriage the presumption in 19 M. We then adopted the "source of funds rule" and the "dynamic acquisition rule" as tools for tracing the marital and nonmarital components of property. We then determined that the transmutation doctrine considered in Young would apply when one spouse transfers property to both spouses jointly during the marriage.

The husband in Carter acquired real estate prior to the marriage.

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During the marriage he conveyed the property to himself and his wife as joint tenants. Referring to joint tenancy property under the old common law regime, we stated:. We gave effect to this "recognition of the partnership" that we failed to acknowledge in Young, and noted that by doing so. As a result, the property in Carter was characterized as marital property,and the husband was prevented from including it in his separate estate merely by showing that the property was "acquired in exchange for property acquired prior to the marriage.

We noted that:. Thus, we retreated from the notion that the choice of joint ownership creates marital property. Finally, in McCracken v. The text of section A sheds no light on this problem. In Grant, Justice H. Glassman, in his concurring opinion, accurately stated that "it is fruitless to endeavor to determine the meaning of subsections 2 and 3 as well as their interrelationship by a mere textual analysis. He concluded that. We adopt his reasoning and extend his conclusion. The purpose of the statute is enhanced by recognizing that real property acquired jointly during marriage, whether transferred from a spouse or a third party, becomes a part of the marital estate.

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As we have held with respect to interspousal transfers, the motivation for the transfer is irrelevant. Lalime, A. Weeks, A. It is incongruous to conclude that such an outright transfer of ownership to a spouse fails to create divisible marital property in the event of divorce. In the context of a partition action between unmarried joint tenants, we have stated: "To allow the consideration of contributions preceding a joint tenancy would defeat joint ownership. Boulette, A.

Ironically, pursuant to the Tibbetts rule, a married person not only escapes equitable division but gains an ability to recapture a separate estate that is denied any other joint tenant. Any unfairness pursuant to the new rule is addressed by the court's consideration of all relevant factors, in dividing marital property, including the length of the marriage and the relative contribution of the spouses.

Section A relies on an equitable division rather than an inflexible system of classification to achieve justice in complex circumstances. We overrule the Young and Tibbetts line of cases to the extent that they treat jointly owned real property as separate property. By holding that joint ownership results in marital property, we correct the interplay between subsections 2 and 3 and advance the statutory purpose of subjecting shared assets to the court's equitable powers of division. The court applied the transmutation doctrine and ruled that Richard's transfer of funds to the joint savings account "evidences a gift to the marital estate, later reflected in joint title to the real estate.

Arey v.

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Arey, A. The court's division will be overturned only if it results in plain and unmistakable injustice, so apparent that it is instantly visible without argument. Foley v. Foley, A. The statute provides that:.

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He also argues that the court abused its discretion by setting an unreasonable timetable for his purchase of plaintiff's onehalf interest in the residence. He asserts that he is unable to obtain a bank loan within such a short time.

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  4. He has no pension rights with the sheriff's office, but he testified that he expects to collect a pension from his sixteen years of employment in Pennsylvania. Mary worked part-time during the marriage and took care of the children at home. She has no pension rights. When the daughter reaches majority, the judgment provides that Mary will be obligated to pay child support to Richard for the benefit of the son. Mary has no pension rights.