During a divorce, you’ll likely have many questions concerning what happens to your home, your current home loan, and even your credit rating. At RE/MAX Masters we are here to help educate you on all available options so you can take the proper steps in purchasing your next home.
I/We will guide you through this process one step at a time, discuss your financial goals, and tackle the inevitable concerns and questions that will arise. We can provide a free consultation including a comparative market analysis of your home (CMA) to help give you the answers you need to make the best financial decision.
Below are some answers to frequently asked questions:
What happens to my current home?
If you and your spouse own a home together, 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 home loan. 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 home loan 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 home loan?
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. We will connect you to an experienced lender / originator who can give you the best advice for your unique situation.
Why work with Morne Prinsloo (Divorce Real Estate Agent) form RE/MAX MASTERS?
I have navigated this process alongside many of my clients who have struggled with the same financial questions and stresses you are experiencing. I know that being properly educated on the intricacies of this process and being aware of your available options is the best way to minimize unnecessary confusion.
Finally, I understand the emotional impact a situation like this has on someone and that you need an advocate, not a salesperson.
You have options regarding home ownership and I honestly want to earn your trust.
Little Falls, Wilgeheuwel & Surrounding Area Agent
Work Phone: 011 795 1032
Mobile: 079 047 5172
“I can guarantee my services and marketing plan. If the right buyer is in the market, my marketing efforts will find him”