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Even in the best of situations, divorce can be ugly. Outside of children, the home is generally the most argued about subject because it is generally the most expensive thing you and your spouse may share. Even the divorces and breakups that start out amicable can eventually turn sideways - if not completely inside out - despite well intentioned efforts to remain civil. Regardless of who was wronged, who was innocent, how the blame is divided, or whether the union simply drifted apart, it's a death of a relationship, a time to mourn. It's also a time of rebirth and a new life. We have handled divorces in the past with care and consideration for our clients. Let us handle the stress of selling or finding your home. When selling your home after a divroce here are some simple steps to consider... Selling Your House- Establish Market Value - Figure out how much your home is worth based on past comparable sales.
- Prepare Your House For Sale - Clean, declutter, depersonalize and pack.
- Find a Real Estate Agent - Consider experienced agents over friends or relatives with little or no experience.
- Interview - Although, depending on market conditions, you may sell the home yourself, it's always more difficult to do so during times of stress, and you might want to let a professional take over.
- Don't Advertise Your Dissolution - Protect your privacy while your home is on the market. If buyers know the reason for the sale, you might receive a lower offer.
For legal advice, please consult a lawyer. Steps You Can Take to Protect Your Credit- First, Obtain Your Credit Report - You can get a copy of your credit report by notifying each of the three credit bureaus, Experian, TransUnion or Equifax, or you can obtain free copy of each report online by copying and pasting this secure link into your browser: http://annualcreditreport.com.
- Second, Inventory Credit - Make a list of all creditors, secured and unsecured.
- Secured creditors are those that attach an asset as security for the debt. If your home is mortgaged or you have a loan on your car, for example, your home and car are assets used as security.
- Unsecured creditors are those that lend you money based solely on your promise for repayment.
- Third, Separate Joint Accounts From Individual Accounts - Joint accounts are those containing both names, and each of you is responsible for the debt. Individual accounts are those opened solely in your name.
- Fourth, Call Joint Credit Card Lenders - Find out if the credit extended is based on your credit or your partner's credit.
- If the credit is based on your credit, but your partner has a card, ask to have your partner removed.
- If the credit is based on your partner's credit, put the credit card in your pocket. OK, just joking. Ask to have your name removed.
- If the lender refuses to remove a name from the account, close the account and open a new account.
- If you have a balance on your credit card, the creditor will not close the account unless you pay off the balance. But you can prevent further charges on the account by asking for the account to be frozen.
- Fifth, Sell or Refinance Secured Assets - It is important to separate the liability for secured assets.
- If a car is financed in both names, regardless of whose name is on the title, both of you are responsible for the loan.
- If a mortgage is held in both names, regardless of whose name is on the deed, both of you are responsible for the mortgage.
- Even if your divorce decree assigns possession of those assets to one party, or if one of you voluntarily transfers title to the other, the liability for the loan will remain if you do not sell or refinance the asset.
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