What if the property is underwater (worth less than the mortgage) during the divorce?
If the property is underwater, options include selling the home at a loss, negotiating a short sale with the lender, or one spouse assuming the mortgage while agreeing to handle any deficiency. Another approach is for both spouses to continue sharing mortgage payments until the market improves. The chosen strategy should be carefully documented in the divorce decree to avoid future disputes.
Decision Making
Learn the legal aspects of decision-making in divorce around topics like medical/dental, education, religion, and practical guidance for effective co-parenting.
Post Real Estate
Learn the steps, considerations and potential challenges with transferring or handling real estate after a divorce is final.
Real Estate
Walk through various considerations when valuing, dividing or buying out equity in real estate.
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