The divorce was amicable on the surface, but you are seething and hurting inside. When the dust settles, you find yourself staring into space, wondering what to do with the rest of your life. At least you still have the house – that’s a start on the road to recovery.
Get your race back on track
Divorcing couples face several issues before reaching an amicable agreement. One of the thorny issues is the home. Women in different predicaments are always concerned about their home and the 45% decrease in their standard of living.
By knowing your rights and the limitations of the home you have shared with your husband for years, you can embark on the search for a home, stability, and security for you and your children. Your efforts will ease the emotional turmoil you are experiencing.
Assets – both of yours or just his?
During the divorce process, keep your cool. You owe it to yourself and your children to stay calm while calculating what you can salvage from your divorce.
Your first goal should be your home, not to shop until you drop to forget the pain and damage to your self-esteem. If you bought the house together and a year later got a refinancing home loan, you will wonder what you are going to do on Adam’s behalf.
If the mortgage is in your name alone, but the title and deed to the house are both in your name, the court will simply divide the marital property and your debt. One will stay in the house and the other will get the loot elsewhere. He might get the car, the grandfather clock, and the dog.
But if the house was bought by your partner before you got married, it belongs to him and, unless he gave it to you as a gift and your name is on the title and deed, it is rightfully yours. What do you do now if the house is still in his name?
Your husband can kick you out, it’s his house; you can stay there until he does. But if you contributed to the mortgage payments, you are entitled to some equity and the courts will also allow you to live in the house for a while.
It’s the same story when the situation is reversed. Better yet, get an attorney to avoid legal loopholes regarding your situation and the possibilities of refinancing a home loan given the predicament you find yourself in.
Preparing for a future without it with a refinance mortgage
If you get a refinance mortgage to start a home business, you can try making your fruity facial treatments or growing choice vegetables year-round. Meanwhile, you can specialize in children’s parties if you love to cook.
Check out business ideas online to find a business that fits your abilities and capital investment. As always, you need to be disciplined and aggressive to survive on your own after the breakup. Refinancing a home loan will give you financial freedom and security.