Divorce and a place to live

Settling on a place to live during a divorce and afterwards can be a difficult decision for some California residents who are ending their marriage. The usual options include remaining in the current home, renting a home or purchasing a new place. There are multiple factors to consider before making a final decision about where to live.

The emotional attachment people have to their current home can make it difficult to imagine living elsewhere. One may feel even more inclined to remain in the home if there are minor children involved. Staying in the home can give parents and children a sense that one part of their lives is constant during a time when many other aspects are experiencing an upheaval.

However, deciding to remain in the family home requires careful consideration of certain financial factors. A comprehensive list should be made of all the expenses associated with the cleaning, utilities, maintenance and taxes for the home. If there are any significant repairs that have to be made at any time in the future, those costs should also be factored in the calculations for the cash flow that will be needed to care for the home properly.

Another financial consideration is the mortgage. Those who are assuming responsibility for a mortgage will have determine if they have a sufficient monthly cash flow. For people who do not have an incoming stream of funds to pay for the home's costs, they may be able to secure an asset-securitized loan if they have enough assets. In some cases, people who are getting a divorce will decide to sell it and split the proceeds. This can be part of a settlement agreement reviewed by their respective attorneys.

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