What To Do When Going Through A Divorce And You Can't Afford Your House Payments?

Divorce is agonizing! Couples, especially those many who I've observed in Ft Lauderdale, Florida, find their minds crammed with insecurity and uncertainty that fuels distress. Things get tougher with disputes about finances especially when the court's intervention is required to make fair settlements. If there are marital asset such as a house then the responsibility to make payments to avoid foreclosure becomes a debated issue. What if there's a situation when the spouse who initiated the divorce proceedings moves out the house? What would you choose to do when the resolution on your divorce is still in peril and maintaining the entire house payment alone is difficult if not impossible? What do you think are the best options available, to save you house from a foreclosure? While a court order can lawfully enforce continued mortgage payments from your spouse, I'm going to introduce you the concept of 'Short Sale' that can save your house from foreclosure and protect your credit scores. A short sale is form of selling a property for less than what is owed to the bank. This option is generally available to a homeowner who is facing foreclosure. The homeowner must work with their mortgage company to get approval to short sale their property. Most mortgage companies have a specialized department to assist homeowners whom are behind on there mortgage payments. This department is called the loss mitigation department. The LM department can provide options to homeowners, such as loan modifications, refinance and short sale. Obtaining approval for a short sale can be a lengthy process, sometimes up to 6 months. Your mortgage type (FHA, Conventional, etc.), can determine how difficult the short sale process. You can contact your local foreclosure consultant or a loan modification company or real estate agent to provide you with guidance about short sales. When your house is open for sale at the right price in the real estate market, it could bring multiple buyers to compensate you with enough capital that can lighten up your financial stresses. Communicate with your spouse about the advantages of a short sale. If your spouse declines to give consent, seek a court's help justifying the rationale behind your petition. If the Law perceives your grounds of petition as genuine, you would be issued a court order directing the listing and sale. As co-equity holder of the marital asset, your spouse will be bound by federal laws to sign in the listing agreement. Send all copies of paperwork to your lender, to ensure your short sale will be approved. After the sale, disburse funds as required by your lender. It is best to work with a real estate professional to handle the short sale. Best solution just sell your property to me call 954 247 1353 or click here!