Harvard-trained Lawyer, Kelly Lise Murray, co-author of Divorce This House - Not Just your Spouse!, is an expert on the pitfalls of keeping a home after a divorce. She will be detailing hidden problems like extra tax liability, damaged credit, foreclosure, bankruptcy and more at a free lecture at the Embassy Suites in Valencia on Thursday, March 11 from 7:00 p.m. to 9:00 p.m.
Murray will detail the five things she says everyone must know before completing a divorce property settlement.
The emotional reasons to keep the house often do not make good financial sense and can leave you "house poor." That is when you have a lot of house and little else to take to the grocery store or live on.
Only two ways off of a Joint Mortgage: individually refinance or sell the house. That's it. Otherwise, if you keep a joint mortgage after divorce, one late mortgage payment drops both credit scores (20-100 points) and foreclosure is a "strong negative" on both spouses credit reports - up to 7 years!
Hidden house problems can cost you more later (roof, mold, termites) - Is Your House a Lemon?
Hidden debt from liens on your house (liens from: tax, credit cards, gambling, etc) - Who Else Owns Your Home Equity?
Solution is simply MORE/EARLIER: MORE due diligence (investigation/information) from MORE real estate and financial professionals, MUCH earlier in your divorce process.
To RSVP for the limited space event, those interested can email Patrick Raach, RCSD-D at
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. or call at 661-254-3948 ext. #103.
