When considering home ownership, it is important for people to be realistic and fully aware of the total costs of home ownership.
You may need to work with a team of people willing to help you as you navigate the many many transitions that your divorce will require.
Keeping the home in the divorce may mean you need to be able to buy out your spouse’s share of the equity. If you use liquid assets to buy out your spouse’s equity, you may find yourself short on cash for living expenses if you did not carefully review your post-divorce budget.
A common concern divorcing couples face is whether they will they qualify for a mortgage post-divorce, either to refinance an existing home or to purchase a home.