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A friend of mine is going through the same thing. To make a long story short he bought a new house and a day after they got the keys and he and his wife seperated and are now divorced. Their agreement on the house was that within 2 years he would either sell it and split the profit with her or he would refinance it and give her half of the cash he got in the refinance. They based the agreement on what the house was worth at the time of the agreement. He decided not to sell and refinanced. He has about 90K in equity in the house and they would only give him 30K in the refinance. He had to pay her the entire thing because at the time of the divorce the house had about 60K in equity so she was owed 30K. Pretty wild. The house actually went up in value in this market and he has never missed a payment but they would only give him about 35% of the equity he had in the house.
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