Marriage of Hixon CA4/2

FACTS

In 2010, Wife purchased a house (the House) for $84,000. The House was held

in Wife’s name, as a single woman, without a mortgage. In 2012, Wife obtained a five-

year home equity line of credit (HELOC) of approximately $63,000 on the House. Wife

made interest-only payments on the HELOC.

Husband and Wife married in May 2014. Upon marrying, Wife wanted a joint

bank account with Husband. From their joint bank account, Husband and Wife

continued the interest-only payments on the HELOC. In 2017, as the five-year deadline

for the HELOC approached, Husband and Wife obtained an $85,000 mortgage to pay

off the HELOC and purchase a car. It was Wife’s idea to apply for a mortgage because

the HELOC “was a five-year term loan, and [the bank] did not want to renew or extend

the loan.”

Wife’s father is a financial advisor, and he advised Husband and Wife

throughout the process of obtaining a mortgage. According to Husband, Wife needed

Husband’s income and credit score to qualify for the mortgage. According to Wife, she

did not need Husband to qualify for the mortgage because she held sufficient equity in

the House. Husband and Wife jointly applied for the mortgage.

2 As…