'Kiss cam scandal': Astronomer's HR head Kristin Cabot and husband took $1.6 million loan, what happens if they divorce; 'lawyers' take
New details about Astronomer's HR head Kristin Cabot has emerged in the ongoing fallout from the viral Coldplay 'Kiss Cam' scandal. Astronomer CEO Andy Byron has resigned from his position after the scandal, but Cabot is still on leave. Now an online report reveals that Cabot and her husband Andrew Cabot took $1.6 million mortgage just before five months from the viral incident. According to a report by The Sun, the couple mortgaged their luxury home on Rye for the amount. It is a four-bedroom estate located near the coast. This new information raises questions about the complexities they could face if their marriage were to end in divorce, according to legal experts.
What happens if the Cabot couple file for divorce
According to a report by The Sun, the Kristin Cabot and her husband Andrew Cabot, the CEO of Privateer Rum obtained 1 $1.6 million mortgage from Morgan Stanley in March this year. The coupled borrowed the amount in lieu of their $2.2 million property on the New Hampshire cost. However, after the viral 'Kiss Cam' incident which happened at the recent Coldplay concert there are speculations that the couple might head for a divorce. Now legal experts explain what will happen to the property if the couple files for divorce.
As reported by The Sun, legal experts suggest that a shared mortgage can definitely complicate the divorce proceedings. If the couple were divorce, then both of them will remain legally responsible for the payments related to mortgage. The experts also suggest that the most easiest solution is to sell the property. The couple can sell the house and divide the amount after paying off the mortgage.
On the other hand, one spouse can also refinance the mortgage solely in their name, taking on full financial responsibility for the loan. Also, the spouse who wishes to keep the property could "buy out" the other's share of the equity, often by refinancing or using other assets.
Attorney William Cafaro told The Sun that high-value loans like this often become 'leverage points' in divorce negotiations. 'It's not just about who gets the house—it's about who can afford to keep it,' he said.
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