Divorce impacts your home and your mortgage in more ways than you can even think. For me and my divorce, I remember much debate around who would keep the house? There were home repairs to consider. Who can afford the mortgage? How much equity did we have and how could that be split?
During our January 8th, 2017 meeting we Brett Leschinsky of Venture Bank, a mortgage expert specializing in divorce transactions.
Brett has been a respected mortgage professional since 2002. He has also been features on WCCO’s Real Estate Radio Hour to discuss common mistakes divorcing couples make.
A few topics we discussed were:
- Why is it important to determine what to do with the house early in the divorce process?
- How you can improve your decision making ability by switching your mind frame from a romantic relationship to a rational, business relationship.
- An important clause to put in your mortgage if one person will be keeping the home – it can save literally save tens of thousands of dollars.
- How to appropriately calculate remaining equity after the sale of your home.
- Why it is so important to know the current terms of your mortgage.
- Not all assets are equity. It is important to understand your cash needs and the tax adjusted value of your assets.
- An important strategy when you agree on splitting assets that could save you thousands of dollars.
Our meetings are powerful, informative and helpful. But meetings are not just about education. We help men connect, support each other and at the same time, we build community. You don’t have to feel isolated in your thought, feeling or your situation.
I invite you to a meeting. Help yourself – when you do, we help each other and together we are building a strong and connected community!