Divorce
To end a marriage, most people get a divorce. When people divorce it often means dividing up assets such as a house, cars, retirement accounts, and other assets and investments. But when it comes your home, mortgage and home equity loan, getting a divorce means understanding your liabilities with respect to having your name and credit associated with the home and mortgages. Learn from others who have been through a divorce, how they divided up their assets, and when they consulted an attorney or tax professional.
Posted on April 20th, 2013 by
Ilyce Glink and Samuel Tamkin
When going through a divorce and breaking up your mortgageA MortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. is a document granting a lienA Lien is an encumbrance against the property, which may be voluntary or involuntary. There are many different kinds of liens, including a tax lien (for unpaid federal, state, or real estate taxes), a judgment lien (for monetary judgments by a court of law), a mortgage lien (when you take out a mortgage), and a mechanic's lien (for work done by a contractor on the property that has not been paid for). For a lien to be attached to the property's title, it must usually be filed or recorded with a local county government office. on a home in exchange for financing granted by a lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate.. The mortgage is the means by which the lender secures the loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds.. …
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Posted on April 5th, 2013 by
Ilyce Glink and Samuel Tamkin
Quit claim deedA Quit Claim DeedA Quit Claim Deed is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property that a person may have, without a representation that he or she actually has a right in that property. For example, Sally may use a quit claim deed to grant Bill her interest in the White House, in Washington, DC, although she may not actually own, or have any rights to, that particular house. is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interest. charged annually …
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Posted on February 16th, 2013 by
Ilyce Glink and Samuel Tamkin
Getting a quitclaim deed after divorce is necessary to remove a spouse’s name from the property titleTitle refers to the ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! of a particular piece of …
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Posted on January 23rd, 2013 by
Ilyce Glink and Samuel Tamkin
During divorce the division of assets and property can take a long time. Find a divorce attorney to help divide your marital assets. Q: My husband and I have been married for over 15 years. Two years ago, we separated …
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Posted in Divorce
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Tagged divorce, property
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Posted on November 20th, 2012 by
Ilyce Glink and Samuel Tamkin
Helping your children pay off their mortgageA MortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. is a document granting a lienA Lien is an encumbrance against the property, which may be voluntary or involuntary. There are many different kinds of liens, including a tax lien (for unpaid federal, state, or real estate taxes), a judgment lien (for monetary judgments by a court of law), a mortgage lien (when you take out a mortgage), and a mechanic's lien (for work done by a contractor on the property that has not been paid for). For a lien to be attached to the property's title, it must usually be filed or recorded with a local county government office. on a home in exchange for financing granted by a lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate.. The mortgage is the means by which the lender secures the loanA Loan is an amount of money that is lent to a borrower, who agrees to repay it plus interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds.. and has the …
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Posted on November 9th, 2012 by
Ilyce Glink and Samuel Tamkin
When getting a divorce and signing a quitclaim, it is crucial to remember your home mortgageA MortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. is a document granting a lienA Lien is an encumbrance against the property, which may be voluntary or involuntary. There are many different kinds of liens, including a tax lien (for unpaid federal, state, or real estate taxes), a judgment lien (for monetary judgments by a court of law), a mortgage lien (when you take out a mortgage), and a mechanic's lien (for work done by a contractor on the property that has not been paid for). For a lien to be attached to the property's title, it must usually be filed or recorded with a local county government office. on a home in exchange for financing granted by a lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate.. The mortgage is the means by …
Continue reading
Posted on October 30th, 2012 by
Ilyce Glink and Samuel Tamkin
Divorce and refinance issues often come hand in hand. Protect yourself from fraud by keeping copies of your mortgageA MortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. is a document granting a lienA Lien is an encumbrance against the property, which may be voluntary or involuntary. There are many different kinds of liens, including a tax lien (for unpaid federal, state, or real estate taxes), a judgment lien (for monetary judgments by a court of law), a mortgage lien (when you take out a mortgage), and a mechanic's lien (for work done by a contractor on the property that has not been paid for). For a lien to be attached to the property's title, it must usually be filed or recorded with a local county government office. on a home in exchange for financing granted by a lenderA Lender is a person, company, corporation, or entity that lends money for the purchase of real estate.. The mortgage is …
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Posted on June 19th, 2012 by
Ilyce Glink and Samuel Tamkin
Changing the name on a titleTitle refers to the ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! of a particular piece of property. to a home is bad idea if you’re stuck in …
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Posted in Divorce
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Tagged title problems
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Posted on February 2nd, 2012 by
Ilyce Glink and Samuel Tamkin
Lending money to family and friends can lead to problems, particularly if they get divorced. Recovering the money may be even harder. Q: My wife and I are in our late 60′s and two years ago we loaned my son …
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Posted on January 12th, 2012 by
Samuel J. Tamkin
In a divorce, if one spouse will keep the home, the other spouse should quit claim deedA Quit Claim DeedA Quit Claim Deed is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property that a person may have, without a representation that he or she actually has a right in that property. For example, Sally may use a quit claim deed to grant Bill her interest in the White House, in Washington, DC, although she may not actually own, or have any rights to, that particular house. is a deed that operates to release any interestInterest is money charged for the use of borrowed funds. Usually expressed …
Continue reading
