What happens with our joint home?
This can be a complex question and depends on your specific needs as well as your financial situation. However, If you own joint property, there are generally two primary solutions. Sell the home, pay off the current mortgage and divide the net proceeds accordingly. Or one person may be able to buy out the other and refinance the mortgage. There are some variations and considerations to these options, so it's important to seek the guidance of a real estate professional that specializes in divorce before making any legally binding or permanent decisions.
How can a divorce impact my credit score?
Unfortunately for many, divorce can be a time of financial hardship and credit challenges. If you're a borrower on the current mortgage, it's imperative that you stay current on the monthly payments, whether or not you remain in the home. We can discuss further whether selling or refinancing may be a better option for your situation and come up with a plan for accomplishing your goals and maintaining good credit.
Can I buy another property while on the current mortgage or after divorce?
That will depend on a few things, most importantly your ability to finance another property. If you are still listed as a borrower on the current home, some mortgage programs may be able to exclude that debt. Also, in most situations involving child support and maintenance, those payments must be established for a period of time before you can use it as qualifying income. I can connect you to an experienced lender who also specializes in divorce and can advice you based on your unique situation.
Why work with me?
I've earned my RCS-D which has prepared me to work with divorcing home owners as well as their legal and financial advisors in a collaborative and supportive way. It's imperative to work with a real estate professional that specializes in divorce and can help you navigate your way through this difficult process. I've been educated on the intricacies of this process and have helped other clients who have struggled with the same financial concerns you may be experiencing. Additionally, I've personally experienced divorce and I understand the emotional impact a situation like this can have on a family butthere is hope and a light at the end of the tunnel. If you would like, I can also connect you to legal and other professionals who can assist you during this transitional period. Finally, I have over a decade of experience in residential real estate, so should you and your ex-partner decide that selling is the best option, I will work hard to get your home sold within your terms, for the highest possible price and with your consent, keep both parties as well as your legal professionals informed throughout the process to ensure a smooth transaction. I would welcome the opportunity to learn more about you and help you explore your options.
If you or anyone you know could benefit from more information or a free consultation, please contact me anytime through the form below or at the above phone and email address.