News By Tag
News By Location
Going Through A Divorce & Need to Sell Your Home?
Going through a divorce or separation can be very difficult. It can turn your world upside down. During this time, if you must sell your home. Please call 678-480-5054 for assistance.
By: Atlanta Homebuyers Realty Group
Below are some answers to frequently asked questions:
What happens to my current home?
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.
How does a divorce impact my credit score?
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.
Can I buy a new home if I'm still listed on the previous mortgage?
Yes, 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.
You have options regarding home ownership and we want to earn your trust. To learn more about how we can help, call us at (678-824-4817)
Lisa Jefferson, Broker/Owner Atlanta Homebuyers Realty Group