My New Blog

They say breaking up is hard to do....andit sure is, especially when it ends in a divorce.  And it gets even trickier when a home is involved.  Combine the states of 62% divorce rate and 69% homeownership rate and it's not hard to see that dealing with a home in the midst of divorce is a common scenario.

There are many questions you might ask at this time, paticularly surrounding your home. 

Question 1. "I think I want to stay in my home...what do I need to keep in mind?"

First, take into coniseration the size of the home, utilities, payments and family needs.  Does staying in the home make sense?  You will likely now be entirely responsible for the house payment, taxes, insurance, upkeep, maintenance and other related bills.  Your household income may be decreasing and if you are subject to a court order for support, your expenses may be increasing, so it is important that you are aware and thorough in determing what your actual expenses will be in keeping and maintaining the home on your own.

Tomorrow:  "My spouse is entitled to share in the equity we have in our home...how is this handled?"