Pay Dirt

Photo illustration by Slate. Photo by eternalcreative/iStock/Getty Imaes Plus.

Our advice columnists have heard it all over the years—so we’re diving into the Pay Dirt archives to share classic letters with our readers. Submit your own questions about money here . (It’s anonymous!)

Dear Pay Dirt,

I am divorcing my ex. We jointly own a home and are both on the mortgage. I live there, and we split custody of a child. The house was appraised at more than what we paid, but less than what Zillow and Redfin value it.

My ex wants to refinance it into my name for the entire appraisal amount. We never had any money to put in other than basic repairs, and I always assumed if we did sell, it would likely be as a fixer-upper, and we’d get only enough to pay off the outstanding mortgage, as it has issues with leaks in the foundation and walls.…