Best Divorce Lawyers in Longmont, CO

No Legal Advice Intended: This information is not intended, and should not be taken, as legal advice on any particular set of facts or circumstances. You should contact an attorney for advice on specific legal problems. Resolving the issue of real estate was already difficult enough in Colorado’s hot real estate market without high interest rates. The jump in rates over the past year makes this piece of the divorce puzzle even more challenging. With interest rates jumping from 3% to 7% in about a year, qualifying for a mortgage on a single income is even more difficult. In this blog, we review the two most common problems and suggest a few possible resolutions at the end. Don’t expect to find a resolution to every situation here though. The hard truth is that there may be no way to pay out your spouse and obtain a mortgage and that the house simply must be sold. For most divorcing couples, their home is their most valuable asset. In divorce in Colorado, marital property is subject to division in divorce. Marital property usually includes assets obtained during the marriage, as well as the increase in value of assets owned individually prior to marriage. The most common resolutions involving houses in divorce are to either 1) sell the residence and split the proceeds, or 2) for one spouse to keep the house, refinance the mortgage, and cash out equity to pay out the spouse’s share. Click to read more on problems and possible solutions.