Selling A House During A Divorce in California
Getting out from under your home mortgage is a big deal if you're in the process of divorcing. What was once a wonderful love nest for two becomes an impediment of major proportions when you decide to split.
1. Decide who, if anyone, can afford to keep the house.
First you need to decide who, if either of you, wants to stay in the marital home and if they will beable to qualify for a loan on their own based on their individual income and assets. One spouse could buy the other out if they had enough equity in the home.
2. If neither one of you can afford your house alone, sell it.
Sometimes the best thing to do is to sell the house, the sooner the house is on the market, the better off you'll be. While awaiting the sale, continue making the payments while the house is on the market to maintain good credit. In case you cann't make the payments and need to sell as soon as possible.
This is our process to help YOU obtain your GOAL
Tell Us About Your House
Contact us and tell us about the property. With that info we will promptly review it and get you an offer within 24 hours.
We give you a fair offer
In 24 hours or less you will have our offer with no obligation on your part. You have the option to accept or decline.
You control the entire transaction, you decide when its time to finalize the sale. Just relax and receive your check, we do all the work.
3. Avoid foreclosure
Whatever you do, experts don't recommend you and your ex walk away from your home and mortgage. No judge will sign off on a divorce if you tell him you have substantial debt on a mortgage and you plan to walk away from it. If you do walk away, the property will go into foreclosure, like tens of thousands of other homes around the country. That ruins your credit rating and the lender can go after you and your ex legally for the remaining balances on the note.
4. Bankruptcy as a final option.
If the bank does not want to extend to you the possibility of a short sale, bankruptcy could be an option. In that case, you let your ex walk away from the house, assume the mortgage in a divorce and then file for bankruptcy after you're divorced.
You can call or text us any time! (661) 343-9479
Cities Where We Buy Real Estate:
- California City
- Frazier Park
- Lake Isabella
- Lost Hills
- Mc Farland
- Pine Mountain Club
Other Counties Where We Buy Real Estate:
- Orange County
- Los Angeles County
- Riverside County
- San Bernandino County
- San Diego County
- San Luis Obispo County