Additional Information:
We are currently 3 months behind on our mortgage payments and have been separated for 6 months. My husband is refusing to cash in $70K in stock to help pay the monthly mortgage. Can a judge order him to sell his stock?
ATTORNEY ANSWER:
A judge may order your husband to pay the mortgage in divorce proceedings by liquidating the stock. This may be done as a temporary measure to preserve the equity in the marital real estate. More information is needed to see whether a judge would do this. For example, if the home is worth less than what you owe on the mortgage, a more practical solution may be to have a short sale for the real estate. This would preserve the stock with a positive value for division. Alternatively, if the real estate has equity that could be lost to foreclosure, liquidating the stock to pay the mortgage makes sense if there is no other asset to liquidate, or source of income available, to pay the mortgage. You need to consult with an attorney to develop a strategy that works best for you.
Attorney Michael Franklin represents individuals in all divorce related matters throughout the Worcester, Massachusetts and the Worcester County region including the cities and towns of Auburn, Boylston, Clinton, Charlton, Holden, Leominster, Leicester, Paxton, Shrewsbury, Sturbridge, Westborough, Northborough, Webster, Dudley, and Oxford, Massachusetts.
Attorney Michael Franklin
Worcester Divorce Lawyer
5 State Street, Suite 1F
Worcester, MA 01609
