The 2008 housing crisis has made it more difficult for some homeowners to separate and diivorce. Before the crisis, people could easily sell their homes, pay off debts, share the profit, and move. That is no longer the case. In order to separate, people may need to wait longer and accept lower offers. They can no longer be sure that mortgages and home equity loans will be fully paid off after the sale.
During divorce mediation, Sheila Russian provides people with the opportunity to have a thorough discussion about housing. Mediation services enable people to figure out the best way to handle housing. Sheila Russian helps people decide how to get important information, so that they are able to make realistic plans.
"How am I going to be able to find an affordable place to live?" "How are we ever going to sell our house?" "What can we do to lower the cost of selling our house? " The aim of mediation services is answer these questions, so that people can move on. During divorce mediation, you will be able able to discuss:
1. Where do you want to live? Is it important to remain in the same school district? How far are you able to commute to work? What locations will enable you to see your children most often?
2. How much equity do you have in the house? How much is your house worth? What is an appraisal and do you need one? What is the mortgage balance? What is the balance on the home equity? What are the monthly payments for the mortgage? Home equity line? Does the mortgage payment include taxes and insurance?
3. How many houses in the neighborhood have sold? For how much did the houses sell? How long did it take for the houses to sell? Are those houses similar to your house? What needs to be done to prepare your home for sale? How much will the preparations cost? Click here to reach a useful website, Zillow.
4. What arrangements need to be made for payment of the mortgage and other bills? Will the house be sold or will one person buy out the orther? Will you be able to qualify for a mortgage on your own? Is a realtor needed? Is an appraiser needed? What are closing costs? Who will pay the fees?
5. How are we going to divide the furniture and other items in the house? How much will moving cost? What will you need to purchase?
6. What do rentals cost? How long a lease will be required? Will you need a co-signer on the lease?
7. How will these decisions affect your taxes? Who will claim the mortgage interest deduction?
The anwers to these questions will enable you to make realistic decisions, decisions that will enable each of you to move on in your lives. Click here for a good article about Divorce and Home Sales.
Sheila Russian provides mediation services for divorce and family issues in Baltimore, Towson, Owings Mills, Columbia, and Westminster. Flexible office hours include daytime, evening, and weekend appointments. Phone: 410-415-5544.