Consulting a Divorce Mortgage and Real Estate Expert in Colorado Springs, Colorado
Negotiating a divorce settlement is no easy task, especially if you and your spouse are the co-owners of a primary residence, a vacation home and other real estate. Real estate is often a divorcing couple’s largest asset, so it’s important to make wise decisions during the divorce process.
Unfortunately, strong emotions can cloud your judgment during this difficult time. Working with a divorce mortgage and real estate expert in Colorado Springs gives you access to an objective partner who has the knowledge and experience to help you understand your various options, so that you can make smart decisions concerning your financial future.
Working With a Colorado Springs Divorce Mortgage and Real Estate Expert
If you and your spouse own a home together, you typically have three options of how to handle the marital home in your divorce. The first option is to keep the home in both your names, which, in my opinion, is a terrible idea, since it can be very difficult to maintain joint ownership once your divorce is finalized. After all, you didn’t get along while you were married so there’s no reason to think you will be able to co-own such a large asset after your divorce when you and your ex have different financial goals. The second option is to buy out your spouse’s share of the home’s equity and to refinance the mortgage into just your name. And the third option is to sell the home, pay off the existing mortgage and split the remaining funds with your spouse in accordance with your Divorce Settlement Agreement or a court order.
Which option is best for you depends on many factors, including how much you earn, how much debt you have and whether your credit history is positive or negative. A divorce mortgage and real estate expert in Colorado Springs can help you examine the situation from all angles.
Contact a Divorce Mortgage and Real Estate Expert in Colorado Springs
If you need guidance on your real estate options in divorce, contact Next Act Properties at (800) 795-2445.
Jeffrey A. Landers is the Founder and CEO of Next Act Properties, Inc. which provides real estate and mortgage solutions for divorcing and divorced people.
He is a Certified Divorce Lending Professional (CDLP™), Certified Divorce Financial Analyst (CDFA™) and a Licensed Real Estate and Mortgage Broker.
Jeff has been helping divorcing clients since 2010. With a firm understanding and knowledge of divorce mortgage guidelines along with all the other financial and legal complexities inherent in divorce, Next Act Properties is the ideal advisor when real estate, mortgages and family law intersect. Jeff earned his BA degree in Psychology from Columbia University and studied Law at Pace University School of Law.