Barb Schlinker The Real Estate Voice

Segment 3 – Divorce: What You Need to Know About Your House, Your Mortgage & TaxesBarb, of the many emotional and financial challenges of a divorce, dealing with the real estate part of it can be daunting. What are the things homeowners need to know about the house, the mortgage, and taxes when facing a Divorce?#1 – Get some non-emotional trusted advisors around youIf a lawyer is involved sometimes the divorce decree dictates what happens to the real estate.In most cases it's straightforward, but you need someone to evaluate:• The home’s value• How you hold the title• What will happen with the proceeds when it sells• The strategy of what happens next, will you buy another home, will you rent, are you moving away, etc?#2 The Four Basic OptionsYou have 4 basic options in the midst of a divorce as it relates to real estate:• Sell the house and divide up the proceeds per the divorce decree• Buy out your spouse• Have your spouse buy you out of the home• Retain ownership#3 If you have to sell and want to b