divorce: Divorce This House Featured in Blog by Maryland Divorce Legal Crier
- 01/27/09 12:29 PM
Divorce the House Then the Spouse http://tinyurl.com/c4habe Maryland Divorce Legal Crier posted January 27, 2009 A big mistake that a lot of people make in divorce is trying to keep the house according to an article by Lew Sichelman in the Chicago Tribune. http://tinyurl.com/957htd Indeed in Maryland the court can grant use and possession of the family residence for up to three years from the date of divorce to the parent who gets custody of the minor children. In other words, keep the kids, keep the house. But Kelly Lise Murray, lawyer and real estate agent in Nashville, says if you must … (3 comments)
divorce: Bankruptcy Busts Divorce Home Equity Buy Out under Chapter 13 - Personal Reorganization
- 01/14/09 11:27 PM
Bankruptcy after divorce can undo a lot of what your divorce did, especially regarding who pays what (that is, the allocation of debt). Under the 2005 amendments to the federal bankruptcy code (Bankruptcy Abuse Prevention and Consumer Protection Act or "BAPCPA"), if your spouse kept the house and is paying you for your share of the house equity over time... you are at risk. That is because under Chapter 13 reorganization (the easier form of personal bankruptcy to qualify for), home equity debts - technically non-support domestic obligations - ARE dischargeable. Discharge in bankruptcy "wipes the slate clean," meaning the debtor (e.g. … (1 comments)
divorce: How Support via Direct Deposit Damages Your Mortgage Application After Divorce
- 01/12/09 11:08 PM
Not all forms of alimony and child support count as YOUR income for mortgage purposes Accepting your support by direct deposit is a huge mistake. Same thing with cash. Banks require proof of income. When you receive support by direct deposit or in cash, there is no paper trail or proof of income. You Need a Paper Trail - Track Record of On-time Payment in Full: Without a paper trail, the mortgage lender cannot count your support as income. And you may not qualify for a mortgage without it. For the best paper trail, have your support payments sent directly … (2 comments)
Divorce the House Then the Spouse;)
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