Gold Star Mortgage Financial: Solutions for real estate in a divorce
Nobody enjoys talking about divorce. However, when you’re going through one, there are some important decisions you’ll have to make. One of these is what you’ll do with the home if both of your names are on the mortgage. We have a lot of experience resolving situations like this. Sometimes it’s in your best interest to sell, and sometimes it’s better for one person to buy the other out of the mortgage. To learn more about how we help our clients determine the right decision for themselves, watch this short video.
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Gene Agustin & Bernie Tomei
Gold Star Mortgage Financial Group
NMLS #3446
5701 Lone Tree Blvd Ste 217
Rocklin, CA 95765
(408) 828-0575
[email protected]
www.geneandbernie.com
Transcription:
Today we’re going to shed a little bit of light on the subject of divorce, and how it can impact your home and your mortgage.
A lot of times we see marriage settlement agreements come across that state one spouse is buying the other out and keeping the property. While that’s great for negotiating purposes, a marriage settlement agreement doesn’t relieve your legal liability to the lender if there is a mortgage on your existing property. The only way to do that would be to refinance your property out of one spouse’s name and put it in the other’s.
We like to walk our clients through the process step by step to make sure they are making the right decision. We walk through each scenario in our initial consultation. Should we just sell the home and divide the proceeds? Should one spouse buy the other out? We will get all the information together and present it to you so you can make the right informed decision.
If you have any questions for us or you’re going through a divorce and would like some real estate advice, give us a call or send us an email. We’re always here to help.