When going through a divorce, marital debt is split up. The way you go about it could cause you trouble down the road.
Most often when couples are going through divorce, money is involved – both assets and debt. The main money focus is on the assets such as the bank accounts and retirement accounts. Don’t overlook your marital debt. But just like the marital assets are split up in a divorce, so is the marital debt.
Perhaps the biggest myth … Continue reading
There’s no special magic required to navigate the mortgage maze and obtain home loan financing. Making an application and providing basic information is something most borrowers are familiar with. However most people are not familiar with the mortgage process nor aware of the potential curve balls that can occur. Whether preparing to apply or already in the midst of getting a home loan, the following tips may prove helpful when it comes to moving through the mortgage process.
Fewer than 20% of consumers obtain copies of their credit report each year according to a recent study conducted by the Consumer Financial Protection Bureau (CFPB). Many of those obtaining their credit reports are also purchasing their credit score information. But…when a consumer purchases a score from a credit rating agency it is highly likely score will not be the same as the score purchased and used by a lender.
This happens more frequently than not. Why … Continue reading
In the movie, War of the Roses, Danny DeVito cautions, “When a couple starts keeping score, there is no winning…only degrees of losing.” There is a lot of work involved to avoid the score keeping, not to mention to protect yourself and secure your future. But it doesn’t have to turn into the knock-down drag-out like that between Michael Douglas and Kathleen Turner.
Once you and your spouse have determined whom will be responsible for each account, the next … Continue reading
Breaking up is hard to do. And going through a divorce is an overwhelming and emotional process. It may feel like there isn’t enough time or energy to accomplish everything and it isn’t uncommon for emotions take over during a divorce while smart decisions are left to chance.
One of the most overlooked aspects of divorce is protecting your credit … Continue reading
Breaking up is never easy and going through a divorce is especially tough – even more so if you are going through it alone. It is important to surround yourself with a team who can help you navigate the many decisions ahead, primarily legal and financial. (And a few good friends to lean on is always a plus!) Getting organized, protecting yourself and your assets, and creating a good strategy are key.
I run into people every day who … Continue reading