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.

Getting Your Name Off a Mortgage After a Divorce

Getting your name off a mortgage after a divorce requires a properly drafted loan modification by the lender to release you from the loan. By: Ilyce Glink and Samuel Tamkin Q: My ex-spouse and I own two houses. The separation …

Continue reading

Posted in Divorce, Mortgage | Tagged , | 1 Comment

Selling an Underwater Home After a Divorce

Options for selling an underwater home after a divorce are limited if one is the owner of the home and the other is the borrower. By: Ilyce Glink and Samuel Tamkin Q: I am separated from my husband. I live …

Continue reading

Posted in Divorce, Selling | Tagged , , | Leave a comment

Mortgage Loan Assumption | Breaking Up Mortgage After Divorce

When going through a divorce and breaking up your mortgage, a mortgage loan assumption might be an option that could help. Q: I read your recent column in my local paper titled “Giving up interest does not free you from …

Continue reading

Posted in Divorce, Mortgage | Tagged , | Leave a comment

Quit Claim Deed and Mortgage Responsibility: Getting Name Off Mortgage

Quit claim deed and mortgage responsibility don’t go hand in hand. Getting your name off the mortgage is possible when refinancing. Q: I did an act of donation on my house to my ex-husband. He is going to give me …

Continue reading

Posted in Divorce, Quit Claim Deed | Tagged , , | 1 Comment

Getting a Quit Claim Deed After Divorce

Getting a quitclaim deed after divorce is necessary to remove a spouse’s name from the property title and mortgage.  Q: When I was married, my wife and I purchased a home with a VA loan. My wife and I later …

Continue reading

Posted in Divorce, Quit Claim Deed | Tagged , | Leave a comment

Divorce: Division of Assets and Property

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 …

Continue reading

Posted in Divorce | Tagged , | Leave a comment

The Problems With Paying Your Child’s Mortgage

Helping your children pay off their mortgage can cause problems, and you need to consider if helping is truly in your child’s best interest. Q: My son in-law walked away and left my daughter with no job and no money. …

Continue reading

Posted in Divorce, Loan Modification, Mortgage | Tagged , , | Leave a comment

Does Signing a Quitclaim Release You From Your Mortgage?

When getting a divorce and signing a quitclaim, it is crucial to remember your home mortgage is separate from your property title. Q: I’m divorced and signed a quitclaim deed to my ex-wife. My ex-wife failed to make payments on …

Continue reading

Posted in Divorce, Foreclosure, Quit Claim Deed | Tagged , , | 1 Comment

Divorce and Refinance Issues: Protect Yourself

Divorce and refinance issues often come hand in hand.  Protect yourself from fraud by keeping copies of your mortgage papers updated. Q: My ex-husband, while we were still married several years ago, refinanced our home without my knowledge. The home …

Continue reading

Posted in Divorce, Mortgage, Refinance Mortgage | Tagged , , | Leave a comment

Changing the Name on a Title to a Home is a Bad Idea in a Bad Marriage

Changing the name on a title to a home is bad idea if you’re stuck in a bad marriage. Think about divorce and financial independence. Q: Years ago, I bought my mother’s house and then made the mistake of getting …

Continue reading

Posted in Divorce | Tagged | 1 Comment