DIVORCE AND CAN YOU AFFORD TO KEEP THE MARITAL RESIDENCE?
Divorce and can you afford to keep the marital home?

If you are divorcing, you may want to keep the marital residence.  If the jointly titled mortgage will have to be refinanced into your name, will you qualify for a mortgage?  Talking to a mortgage professional should be your first step.

If you qualify for the mortgage refinance including the amount you will ned to pay your spouse for their share of the equity, your next step should be to review your expenses to confirm you can afford the house including potential HVAC replacement and all the other maintenance a house requires.

While looking over your expenses, be sure to include your new tax rate.  If you filed as married filing joint in the past, after the divorce, you will file as either single or head of household.  Include this new tax rate in your expense worksheet to ensure you are correctly calculating your expenses.