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Divorce and your home: What you need to know.

20 Jun

A divorce doesn’t only result in emotional pain, it can often lead to financial turmoil.  Deciding on how to deal with the break-up of the family home can be the most intimidating and potentially devastating part of ending a marriage.

What is often needed during this uncertain and confusing time is some unemotional, straightforward information and advice.  Once you know how a divorce affects your home and mortgage, making important decisions like these becomes a lot easier:
*  Selling the house and dividing the proceeds
Buying out your spouse and keeping the house
*  Letting your spouse buy you out so you can start fresh
*  Continuing to own the house jointly for a while

Unfortunately, each of these decisions comes with unexpected pitfalls that can be very expensive and damage your credit rating.  Knowing what to look for – and what mistakes to avoid – at this uncertain time is essential.

Our team can advise on the following:

How to qualify for financing to buy your spouse out or buy a new home
How to make sure you’re not liable for the mortgage after you leave
Ways to increase your qualifying income after the divorce
Ways to protect and improve your credit score during divorce

Inquire today!  (780) 469-9440

 

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