When going through a divorce, if both spouses’ names are on the mortgage, whoever wants to keep the house will have to refinance it solely in that person’s name. The DiMora Team are real estate experts in the Novi and Northville neighborhoods and we know that also one spouse can relinquish their interest in a property to another through a quick claim deed, but that doesn’t absolve the person of financial responsibility on a mortgage. Many people can’t afford to carry it by themselves, or get a loan with just their income. Check with your financial advisor to see if this is a good option for you. Check out below to see what sold in Country Place in April 2020:
20831 W. Glen Haven Circle, Novi: 3 bedrooms, 2.1 bathrooms, 1,600 sq. feet, 1 car garage, Sold Price: $165,000
Country Place Home Sold
April 2020
Refinancing during a divorce is also tough because you’re removing one party from the obligation of the debt. For more information on Country Place, or similar Northville or Novi neighborhoods such as Highland Lakes, Crosswinds West and Lakewoode Parkhomes, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.