How to Handle Your Home During Divorce
The marital home is many couples’ most valuable asset, so deciding what to do with it during divorce can be difficult. You and your soon-to-be ex have two basic options: sell the home, or one of you stays in it. If you stay, there are two ways to handle the mortgage.
Each option has pros and cons, so you’ll have to weigh what’s right for you carefully.
Sell the home and pay off the mortgage
If you sell your home and pay off your mortgage, you can put both behind you. You can also use the profits to pay down other shared debts. However, if your home appreciated substantially while you owned it, you might owe capital gains taxes on the…Read the entire article by Shawn Leamon on NerdWallet.com