Legal Question in Family Law in Mississippi

Re: divorce

If your wife wants to keep the home, she would need to refinance the mortgage in her name. You would receive your portion of the equity in the settlement. However, I see some pitfalls in this scenario. First of all, given the current housing market and the length of time you have owned the home, there is likely little or no equity in it. In fact, you may owe the mortgage company more than the home is worth. Also, given the amount of your wife�s income, the possible decline in the worth of your home, and the current credit crunch, I have little hope she can get the home refinanced in her name alone, without a substantial amount of money at closing. In this event, the only alternative I see, is to sell the home and spit the proceeds (if any).

Separate maintenance is generally given when a divorce is not granted or desired. It is a way of punishing the guilty spouse for leaving the injured party and the marriage. It does not seem to be the situation.

It appears from your question, that you have a long term marriage. The bigger question may be the division of retirement assets (401K, 403B, pension, railroad retirement, IRA�s, etc.). You will need a Qualified Domestic Relations Order QDRO, to divide such assets. I suggest you speak to your local family law attorney, as soon as possible.