Getting Divorced? Here’s Your Mortgage Timeline

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Divorce is rarely a sudden action. Removing oneself from what was once a life-long commitment often takes time and consideration. It also requires planning and strategy which generally takes place with an attorney who specializes in divorce and family law.

Next, it’s important to contact a mortgage professional. There are many questions to ask along with information to gather and understand.

You’ll need to know the answers to questions like these:

  • Can I stay in my home? Will my spouse move out?
  • Should I buy a new home?
  • Does my downpayment come from my assets?
  • Should we sell the house and split the money?
  • How much debt have I accrued?
  • What’s my debt-to-income ratio?
  • What’s my credit score?

After answering these questions, you’ll need to get your name off your current mortgage. This is especially important before securing a mortgage for your new home, even if you’re divorcing and planning to sell. If your name is still on the mortgage in your current home, you may be denied approval for a new one.

In addition, the closing date on your current home must occur before the date of the purchase of your new home. Be careful. You’ll risk getting approved if these timelines are not followed.

Making it through the emotionally difficult process of divorce is hard enough without having the right people in your corner. Please contact me after you’ve met with your attorney — or recommend me to women who are planning a separation or divorce.

Ready to buy a new home or refinance the one you own? Please get in touch and I’ll be happy to help guide you through the process. I look forward to speaking with you.

August’s Home Improver

Which Kitchen Trash Can?

In the good old days when you needed a kitchen trash can you’d go to the supermarket or local hardware store and grab a plastic can and cover and a box of tall kitchen garbage bags. Done! These days, that same simple need is now a quest for the perfect receptacle for your kitchen.

Looks, location and functionality all need to be considered. Plastic or metal? Inside or outside the cabinet? Mechanized cover or old school step-to-open lid? So many choices!

Once you make up your mind, there’s a bigger issue. We know, you thought you were done, but there’s more. Here’s the deal: It’s less about the look than the lid. Covering your trash not only stops odors from spreading, but it also prevents insects from landing on bacteria and then happily spreading it throughout the rest of your house. Yes, people, this is a thing! Your neighbor the germaphobe isn’t as crazy as you thought, now is she?

Those hidden trash cans that hang off the inside of a cabinet door rarely have covers. Your can might be out of sight, but left uncovered it’s quietly inviting flies, ants and mice to feast on whatever you’ve discarded.

So take our advice when it comes to choosing the right kitchen trash can. Pick the style you like most, but remember that an uncovered can is a bacteria-spreading deal-breaker.