Divorce and Foreclosure Questions

  Divorce and Foreclosure Questions For Investors What do you need to know about divorce and foreclosure? Divorce and foreclosure concerns both the parties in the divorce. In a Divorce, one spouse (known as the Plaintiff) can file for divorce and request that their prior marriage is nullified and their name be removed from the marriage records. On the other hand, the Husband (or "Plaintiff") can ask that his name be removed from the marriage records and that the plaintiff spouse not be able to obtain a promotion or loan with their title. Foreclosures are situations where homeowners who were unable to pay for their mortgages suddenly lose their homes. The initial sale of the property is done under "prevention of foreclosure" and all capital gains tax and insurance are paid by the selling party. However, the homeowner still has to pay the mortgage, maintenance, and insurance on the property. The court will issue an order to the lender to sell the home. Once the sale ...

  Divorce and Foreclosure Questions Spouses who are about to undergo a divorce find themselves also facing a possible foreclosure on their property. A good idea is to learn the most popular divorce and foreclosure questions before making any decisions. You will have some choices to stop the foreclosure from occurring. It all depends on if one partner wishes to retain the property as part of the divorce settlement or both partners want the house.  One good way is to have your divorce lawyer draw up a master divorce agreement. This will outline how the property is to be divided in the case of a divorce. Your divorce lawyer will help you decide if this is the best way to stop foreclosure from happening. Should You Keep or Sell the House? When it’s come to that divorce question, the answer is complicated. There are several things to count: children, the cost of the house, etc. But it’s better to know the most popular situation every spouse meets during the divorce and foreclosure...