Barb Schlinker The Real Estate Voice

How a Divorce Affects Your House, Mortgage & TaxesSegment 2How a Divorce Affects Your House, Mortgage & TaxesBarb, of the many emotional and financial challenges with a divorce, dealing with the real estate part of it can be daunting. What are the things home owners 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 some times the divorce decree dictates what happens to the real estate.In most cases its straight forward, but you need someone to evaluate:The home’s valueHow you hold titleWhat will happen with the proceeds when it sellsThe 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 decreeBuy out your spouseHave your spouse buy you out of the homeRetain ownership#3 If you have to sell and