The question of whether you are able to keep your house after your divorce is a question that troubles many women. There are numerous things to consider:
- Can I refinance the mortgage into my individual name?
- Will I be able to make the payments by myself? Will I get enough support to help make payments?
- If we pay off the house, will I be able to afford upkeep and property taxes?
- If I keep the house, do I owe him money? How would I pay him?
- I don’t want my kids to have to go to a different school, what can I do?
These are all very common questions. Fortunately, almost all of these questions can be addressed by your WSM Divorce Attorney during your first meeting with us.
Our first step will be to review your family’s finances. We will put together a “martial balance sheet,” which is a document that shows what you will keep after the divorce and what he will keep after the divorce along with how much everything is worth. Once this document is created we can determine how much he owes you as a “property settlement” to buy you out of the marriage. We will also go over your family’s incomes and how much child support and spousal support you are likely to be owed.
The combination of the property settlement and support will give us an idea what options you have with the house and whether it makes sense to try to pay off the mortgage, refinance the mortgage into your own name, or maybe buy a new house in the school district and start fresh.
If you need help refinancing or looking for a new home, our WSM Divorce Lawyers know many experienced, well-qualified lenders and realtors who can help.