Orlando Divorce Lawyer
Since Florida is an equitable distribution state, that means all marital assets and debts must be divided equitably between the parties. This includes your home. Due to the current mortgage crisis, particularly in Florida, this makes an already complicated process even more challenging. If your home is "underwater" or you are behind on mortgage payments, you need the help of an experienced divorce settlement lawyer to look out for your current and future financial interests.
Central Florida Family Law Lawyer
Surviving Divorce and the Florida Home Mortgage Crisis
At the office of Timothy W. Terry, Attorney at Law, we have more than 25 years of experience in helping individuals and families in Florida get through the divorce process. If you owe more on your home than it is worth and you are not sure how to proceed with the divorce process, we can take care of you and help make sure that an already difficult situation is made easier for you. Let our experience and knowledge do the work.
An initial consultation is available to you at no charge.
We are available to represent individuals in Orlando and throughout central Florida. E-mail or call us at 407-965-2256 for more information about what an experienced divorce settlement lawyer in Orlando can do to help you.
Dividing Home Equity and Divorce
Florida has one of the highest foreclosure rates in the country. You are not alone in having mortgage problems. In any divorce case, marital property must be divided equitably. The court will often have a home appraised and valued for its fair market value. Then the property is divided between the parties. If there is equity in the home, this is divided. The same goes for any debt and liabilities owed on a home.
If you owe more on your home than it is worth the home is considered "underwater." If this sounds similar to your case, there are options available to you and your former spouse. You may want to have one spouse keep the home and wait to see if the home value will go up and agree to later divide any equity. You may have to foreclose, have a short sale or file for bankruptcy. Every situation is different and the best way to handle an individual case will depend on discussions you have with an experienced attorney.
Contact Our Property Division Attorney: Florida
We encourage you to get in touch with us and discuss with us in more detail about your home equity and divorce situation. E-mail or call us at 407-965-2256 to schedule a free initial consultation with our experienced divorce settlement attorney in Florida