Did you know that your house or condo may be a large part of the division of assets during a divorce? You may be awarded the house in the settlement or you may be ordered to sell your house. Either way, there are some things that you need to know. First, if you are awarded the house, you need to understand that it does not necessarily mean that you can afford to keep it.
There are many women who have fought to keep their houses for their children’s sakes only to end up with a bank foreclosure on their home. Pay attention to the current real estate market and interest rates. Do not assume that keeping the house is a good thing, until you weigh all of the possibilities. If you are ordered to sell the house, you and your soon to be ex-husband will probably have to communicate and agree on certain things. As most of you know, this is not an easy task in and of its’ self. You will have to agree on a Realtor and a price, depending on the court’s requirements.
Please keep your antenna up! People are not always as they seem, when the almighty dollar comes into play.
