Quite often, the divorce settlement spells out who will keep the marital home, as well as how an ex-spouse will be removed from the title and mortgage. As a follow-up to our last blog post, this article briefly explains how refinancing may help you keep the marital home, improve your cash flow, and separate your finances from your ex-spouse.
The marital home may represent a significant piece of a divorcing couple’s net worth. Unlike financial accounts which are readily evaluated, a home will require an appraisal or two to determine its market value. After the parties agree to the value, there are several options to consider in splitting the home equity as explained in the following article.