kelly lise murray: 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)
kelly lise murray: Real Estate Success Inspired by "Recession Lessons" from www.SundayCosmetics.com
- 01/18/09 11:48 PM
Bev Davis - www.SundayCosmetics.com - has an excellent series on www.Twitter.com/sundaycosmetics re: "Recession Lessons." A recurring theme from Ms. Davis' entrepreneurial teachings: "multiple streams of income." REALTORS should follow Ms. Davis' lead - not having all real estate efforts or "eggs" in one fragile, recession-risk basket. Real estate is recession-proof, if you know where to look. And a lucrative place to start - life changes. More positive life changes (job transfer, new baby, relocation-closer to family) and more challenging life changes (loss of job, serious illness/disability/injury, divorce, death) often change real estate needs. To jump start your real estate year, be of service … (1 comments)
kelly lise murray: Jan 13 Georgia Family Law Blog Featured Divorce This House!
- 01/17/09 07:49 AM
The January 13, 2009 Georgia Family Law Blog by Stephen M. Worrall featured Divorce this House http://tinyurl.com/a2ldtt Kelly Lise Murray, Co-Founder & President of DivorceThisHouse.com warns against a hidden danger of divorce real estate -post-divorce mortgages. Not all forms of alimony and child support count as YOUR income for mortgage purposes. In an article posted on ActiveRain.com, she cautions child support recipients that accepting your support by direct deposit is a huge mistake. She says the same is true about cash. The reason: Banks require proof of income. When you receive support by direct deposit or in cash, there is no paper trail … (0 comments)
kelly lise murray: Jan 17 Property Lines Blog features Divorce This House
- 01/17/09 07:19 AM
The January 4, 2009 Los Angeles Times article featuring Divorce This House was re-blogged (positively)! in Property Lines by Barbara E. Hernandez http://tinyurl.com/8vbrl6 Keeping the House Makes for a Messy Divorce Splitting up after years of marriage? Divorce your house, then your spouse. That bit of advice goes against the almost universal desire to hang on to the family home, especially by the spouse who ends up with custody of the children. "If you're still linked through the house, then you're not really divorced," says Kelly Lise Murray, a Harvard-trained lawyer and Nashville real estate agent. People tend to underestimate the true cost … (1 comments)
kelly lise murray: Home Buyers Beware - Get a CLUE (Report) Before. Or Else You Could Lose Your Home Insurance, Your Home Equity and Even Your Mortgage!
- 01/17/09 12:46 AM
We received a detailed and extremely helpful comment to our January 16 Blog about C.L.U.E. reports - Comprehensive Loss Underwriting Exchange. Sidebar: Through C.L.U.E. reports, subscribing insurers (including the big 5) exchange claim history and loss information about your house, your car and you. They use this information for underwriting purposes to determine whether to issue you an insurance policy and if so, at what rate. Higher risk = higher rate. Back to the January 16 blog comment. This home buyer bought a house and within 30 days was informed by a big insurer they were dropping his home insurance coverage. Not … (5 comments)
kelly lise murray: Hidden Divorce Mortgage Mistake - Home Insurance?
- 01/15/09 09:29 PM
Another hidden danger of divorce mortgages - home insurance Did you know home insurance is required to close or keep a mortgage? If the house you buy (or keep per divorce) is later found to be uninsurable, the lender (based on contract language in the loan documents) can call the loan - essentially canceling your mortgage before it's barely begun. Did you know pending insurance claims on a house will likely prevent a mortgage from closing? Another casualty - your credit score: In divorce, if you cannot individually qualify for home insurance on the family house you own with your EX, you cannot … (2 comments)
kelly lise murray: 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)
kelly lise murray: After Divorce Mortgage Option for Stay At Home Parent - Kiddie Condo Loan Program
- 01/14/09 12:17 AM
Sound familiar: "I have to keep the house - because I can't qualify for a mortgage on another property." This is especially true for stay at home parents whose positive economic contribution to the family - although recognized by the family court - is invisible on their current credit report. Low credit or no credit is not helpful for mortgage underwriting purposes. One post-divorce mortgage option for some stay at home parents - the Kiddie Condo Loan Program. It was originally developed by the FHA for undergrad/grad students and their parents who, rather than rent for 4-5 years, chose to buy … (0 comments)
kelly lise murray: Only Two Ways Off of a Joint Mortgage Per Divorce - Do You Owe (on) a House You Don't Own?
- 01/12/09 01:19 AM
Another hidden danger of divorce real estate - joint mortgage after your divorce. Sound familiar: "I signed the papers. Why is my name still on the mortgage?" There are only two ways off of a joint mortgage: Individually refinance the joint mortgage in the name of one spouse only OR Sell the house That's it. Simply signing papers likely means you gave up OWNERSHIP without giving up DEBT. It means you owe on a house you no longer own. This is a HUGE mistake. By signing a quitclaim deed, you transfer your ownership interest (whatever interest you currently have) in … (1 comments)
kelly lise murray: Divorce Derails House from Handshake Inheritance
- 01/11/09 02:44 AM
My first LIVE caller during a Colorado radio interview highlighted another hidden danger from divorce real estate: To help their adult son get back on his feet financially, the parents gifted an "early inheritance" to buy a fixer-upper. But with the son's credit issues, only the parents were named on the house title and mortgage. Fast forward a few years and two new developments: happily the fixer-upper is fixed (by the son) and the house has appreciated in value sadly the parents are now divorcing The divorce rub: one parent confirms the son's house is an inheritance but the other wants … (0 comments)
Divorce the house before the spouse January 9, 2009 By Lew Sichelman Splitting up after years of marriage? Divorce your house, then your spouse."If you're still linked through the house, then you're not really divorced," says Kelly Lise Murray, a Harvard-trained lawyer and Nashville real estate agent. That bit of advice goes against the almost universal desire to hang on to the family home, especially by the spouse who ends up with custody of the children. Indeed, the … (2 comments)
kelly lise murray: Divorce Dish (es) about Divorce This House (tm)
- 01/08/09 10:35 PM
From the Divorce Dish Blog by Lisa Decker, www.DivorceMoneyMatters.com Kelly Lise Murray, a Harvard-trained lawyer and Nashville real estate agent has some interesting ideas and insight when it comes to divorce and the family home. www.DivorceThisHouse.com We spoke recently and look forward to do some complimentary work to help clients, and their attorneys, understand all why the family home can continue to be a money pit even after the divorce is over. Another reason to make sure you understand all the issues regarding the financial aspects of your divorce! http://tinyurl.com/5hyx8k … (1 comments)
kelly lise murray: You're not really divorced if you're still linked through your house
- 01/08/09 05:05 AM
Divorce This House was featured in the Los Angeles Times on Sunday, January 4, 2009 - wow! http://www.latimes.com/business/la-fi-lew4-2009jan04,0,5952121.story HOUSING SCENE Keeping the house makes for a messy divorce It's not just a matter of who keeps the home. Loans, liens and other financial issues can preclude a clean split. By Lew Sichelman January 4, 2009 Reporting from Washington -- Splitting up after years of marriage? Divorce your house, then your spouse.That bit of advice goes against the almost universal desire to hang on to the family home, especially by the spouse who ends up with custody of the children.
Divorce the House Then the Spouse;)
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