Getting one’s first house with a spouse can be one of the most monumental events of the couple’s lives. However, if the couple decides to get a divorce, the same house that caused excitement at the closing table may spark disputes at the divorce negotiation table. A few tips can help a person handle housing-related matters when going through a divorce in Florida.
A divorcing individual may ultimately decide that instead of keeping the marital home, he or she would prefer to get a new house following a divorce. However, if the individual is striving to successfully qualify for a new mortgage while he or she is still linked to a past property, the person would be wise to maintain open-ended communication with his or her ex-spouse. This can help the divorcee to successfully complete his or her desired mortgage transaction.
People who are in the middle of getting divorced may also wish to check their credit scores before they try to purchase new homes. Credit reports are supposed to accurately reflect one’s debts. If an individual spots problems on a credit report prior to applying for a new mortgage, it can be helpful to take time to fix these errors first, as lenders look closely at credit scores as part of the mortgage pre-approval process.
When two married individuals decide to call it quits, the thought of having to divide marital property and assets may understandably be overwhelming. However, an understanding of divorce laws may help an individual to strive for a divorce settlement that will suit his or her financial needs and goals. Both parties during a divorce have the right to safeguard their best interests while trying to come to a fair agreement with each other in Florida.
Source: Fox Business, “How to Divide Your House in a Divorce“, , July 14, 2014