Title: Who Gets the House in Divorce and What Happens [Ultimate Guide]
Headings: Who Gets the House in Divorce and What Happens [Ultimate Guide]
Who Gets the House in Divorce and What Happens [Ultimate Guide]
Who Gets the House in Divorce and What Happens
1. Why It’s So Difficult to Know What to Do with the House in Divorce
1) You are Distracted
2) Your House is a Symbol of Stability (and maybe even status)
3) Hard to Know Whether You Can Afford to Keep the House
4) Sentimental Value
2. Who Gets the House in Divorce
Do I ever have to sell my house (for legal reasons) in a divorce?
3. Do I Have to Refinance After Divorce? List of Options for Your Home in Divorce
Option 1: "THE CLEAN BREAK" Sell the House
Option 2: Refinance House After Divorce:
Option 3: HAPPY MEDIUM? One of You Buys Out the Other
Option 4: LAY LOW - Do Nothing
4. Due Diligence: Part 1
Do Your Due Diligence: Part 2
Look Under The Hood
Keeping the House: Financial Problems that Arise
Lien and Judgments
Foreclosure
Deferred Maintenance
When Considering a Buyout Deal
Checklist of Questions to Ask
5. Make Sure You Qualify for a Mortgage in Divorce
Credit and Income for Qualifying for Mortgage in Divorce
Alimony and Child Support as Qualifying Sources of Income for Mortgage
Work with a Mortgage Professional Who Knows Divorce
About the Author
Sharon Pastore, Main Line Family Law Center
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Content: 4. Due Diligence: Part 1
Factors to Consider When Deciding What to Do with the House
“ The biggest thing when you’re starting to consider what to do with the house in a divorce is to view your house as, “Okay, I’m going to buy this house all over again.” and “What am I actually getting if I’m going to keep it? ” says Jeff. Do Your Due Diligence: Part 2
Determine the True Value of Your House in Divorce
What Goes Into House Valuation? "Treat determining the value of your house with the same due diligence that you did when you first bought it! In addition to an appraisal, it is critical to look at the condition of your property, title and home owner's insurance," says Marilee Wolf, Real Estate Collaboration Specialist-Divorce. Home value is an extremely fluid thing.