DIVORCE
To Keep or Sell the House?
Are you facing a divorce and struggling with what to do about your home? Deciding what to do with the home can be a difficult and emotional decision. Don't let financial ties to the property keeping you from doing what you need to do. Here are a few options.
1. Refinancing After Divorce
If one spouse wants to keep the home and the mortgage is not underwater, refinancing may be an option. The spouse refinancing must have good credit and sufficient income. Make sure you can handle all home expenses independently if you choose to keep the property.
2. Sell or Consider a Short Sale
The most straight forward option is to sell the home. However, in a market where the mortgage exceeds the home’s value, paying off the difference or opting for a short sale might be necessary.
Short Sale Challenges
A short sale can negatively affect both parties' credit scores. Additionally, you both could still be liable for the remaining mortgage balance after the sale, although the lender may release you from this obligation.
When selling a home during divorce, it's important to think about your future housing options, especially if you plan to stay in the same area.
1. Will your monthly payments be higher or lower if you buy or rent?
2. If you have children, can you find a place within the same school district?
3. Have you consider the costs of moving and possibly renting storage space?
4. Do You Live in a Community Property State? It's important to know if you're in a community property state. These states— Arizona, Idaho, California, Louisiana, New Mexico, Nevada, Texas, Wisconsin, and Washington—require an equal division of assets, including the home. In non-community property states, assets are divided based on factors like marriage length, health, and caregiving responsibilities.
Our mission is to provide compassionate, effective assistance to homeowners facing foreclosure, helping them find the best solutions to protect their homes and financial well-being.
We are dedicated to offering personalized support, guidance, and resources to help you navigate this challenging time and secure a positive path forward.
Here are some of the options we offer:
2. Lending money to cover costs.
3. Taking over your loan.
Our Process
Complete the short form.
By completing the short form, you provide us with the information we need to explore possible alternatives to help you avoid losing your home to foreclosure.
We will schedule a time to chat.
We will chat about your unique situation and divide a plan to help you keep your home, sell your home, or whatever you decide to do with your home.
We will walk you through your options.
We are here for you from start to finish. You never have to feel alone in this process.
We will help you transition.
Re-instate your loan, catching up, on mortgage, or sell your home, we are here to help you get to the next chapter in your life.
How We Can Help You
If you're struggling with mortgage payments or know someone who is, please fill out our short seller form below.
We’ll provide you with your options, free of charge.
Connect HERE for assistance.
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