SELLING IN LOS ANGELES

If you and your spouse own a home, there are two main routes you can take to reach a solution. You can sell the home and split the proceeds or one person can buy out the other by refinancing the mortgage. Sitting down and discussing these options will help you get on the same page and minimize friction.

Unfortunately for many, divorce is a time of great financial hardship and credit challenges. Because you are responsible for the mortgage until it is paid in full or refinanced, it is imperative that you remain current on the monthly payments. We can discuss further whether refinancing or selling is a better option for your situation and come up with a plan for accomplishing your goals.

Add an anYes, but it's sometimes difficult to purchase another home until your divorce is final. In most situations involving child support and alimony, the payments must be received for a specific time period before you can use it as qualifying income. If you are still listed as a co-borrower on the mortgage for the prior home, many mortgage programs will allow you to qualify while excluding that debt. We will connect you to an experienced lender who can give you the best advice for your unique situation.swer to this item.

We've navigated this process alongside many of our clients who have struggled with the same financial questions and stresses you are experiencing. We know that being properly educated on the intricacies of this process and being aware of your available options is the best way to minimize unnecessary confusion. Finally, we understand the emotional impact a situation like this has on someone and that you need an advocate, not a salesperson.

You have many options regarding home ownership and we want to earn your trust. To learn more about how we can help, call us at (323) 515-2732 or email us at (info@LARealEstateAgency.com).