Want to keep your house? Watch this FIRST.

Transcript:

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This is attorney Bernie again. Clients often ask me or tell me they want to keep their house. Now, there are a few things you need to keep in mind if you want to keep the house. And that is that you’re going to pay half of the equity of that to your partner. spouse will probably require that you need to refinance the property to keep the your partner’s name off of the obligation so that your partner doesn’t have an inappropriate uh income to debt ratio. Refinancing the property in today’s market is going to

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cost you 6 to 7%. So, you may need to talk to your bank to find out whether they you can assume the current loan. I know a lot of people are scared of moving, but this is a business decision and so you have to go go about it carefully and methodically and discuss it thoroughly with your lawyer.

This transcription was AI generated.