expenses

The Emotions of Buying and Selling a House

Julia

Homes come with far more emotional weight than any other investment we make.

A home is a refuge from the world, a place to raise a family and, for some people, an investment they hope will bring them a good chunk of money down the road.

All too often, though, we don’t realize that how we feel about homes blinds us when it comes time to buy or sell. We let our emotions blind us to cold facts about the market or the realities of ownership. Or we prioritize one set of emotional needs over others that are just are strong but may not be evident at first. And ignoring them can lead us to make bad financial decisions that can affect us for decades to come.

Here’s a closer look at some psychological missteps that buyers and sellers often make as they wade into the housing market.

Read more →

Divorce and the Shared Mortgage

Julia

American_Gothic_
Deciding what to do with the house can be a major quandary for couples getting a divorce, particularly when they share a mortgage.

At LDSAgents.com, a qualified mortgage professional can work with you during the settlement process and can help identify many of the hurdles.

Cynthia Thompson, the founder of Divorce Planning Solutions, a financial planning firm in White Plains, N.Y., says ideally, this preparation should happen early on in the divorce process . Too often, Ms. Thompson said, people are “arguing, litigating, fighting, having no idea of the whole picture.”

When there is equity in the home, each spouse typically wants to take a share as part of the settlement agreement. But if one person wants to remain in the home, rather than sell it and split any profit, then that spouse will likely have to qualify for a mortgage on his or her own. Read more →