Along with child custody and support issues, the division of the marital home is often one of the biggest challenges people face in divorce. It takes an experienced family law attorney to help you navigate the complexities of dividing home equity.
Navigating Home Equity Division in Today's Housing Market
Especially in today's depressed housing market, keeping the home can be more of a liability than an asset. The person who ultimately keeps the home will likely be required to refinance the mortgage loan(s) which can present unique challenges if the individual has lower credit or does not earn enough income to pay the mortgage on his or her own. Individuals may be forced to sell the property if they cannot, or do not, wish to continue making mortgage payments or are unable to refinance. With many homes trapped in upside-down mortgages (meaning the mortgage is more than the house is worth), it may be difficult to find a buyer.
Attorney Nicole Lasiter and attorney Stephanie Jackson provide the in-depth counsel and practical information you need to protect your interests when dividing home equity. We will not only advise you of your rights and responsibilities, but we will also give you our professional assessment of the time, expense and risk involved in each of your options. By taking time to understand your goals and the facts of your case, we seek to help you make responsible decisions and achieve positive results.
If your home is facing foreclosure or a short sale and you are going through divorce, our firm can help you understand your options. We understand the relationship between bankruptcy, foreclosure and divorce. Our lawyers provide guidance on whether you should try to keep the home, if it is possible to obtain a loan modification, and can refer you to someone to advise you on the possible tax implications of foreclosure and divorce and other considerations.
For more information regarding our approach, contact our law office in Phoenix and talk with one of our experienced Arizona attorneys. Whatever your situation, we can help you make informed decisions aimed at protecting your best interests.