When you are going through divorce and you own a home in Santa Clarita, you are going to have to deal with the property one way or another. Be that to sell, refinance or buy the other party out.
Tim Blankenship (that’s me) with Divorce661.com and Robert Mickalson, a local Santa Clarita Realtor, (www.askrobertscv.com) got together and spoke about several issues you may face when going through divorce in Santa Clarita, or anywhere for that matter, and some solutions to make the home selling process easier.
Here are some of the topics we discussed. Make sure to watch the interview below.
- What to do when the parties cannot agree on a real estate agent
- How can the parties be updated on the sale of their home
- How Robert handles clients that don’t want to be in the same room or are living apart
- Most common questions Robert gets from clients going through divorce
- Why transparency is important when selling your home during the divorce process
The thing that I see frequently is that one of the parties usually wants to stay in the family home. The problem becomes that usually they cannot afford to refinance the home in their name alone.
While some people just decide to keep their name on title and on the loan, the problem that exists there is that if the other party defaults on the loan, your credit will be impacted as well.
It is a cleaner transaction to refinance the property, removing the other spouse off the title and loan, where possible. Where not possible, you have to decide if you want to take the risk or sell the property.