What Is Home Equity? Home equity is the difference between the current market value of your home and the remaining balance on your mortgage. In simpler terms, it’s the amount of ownership you have in your property. For example, if your home is worth $400,000 and you still owe $200,000 on your mortg

1. Who Is Responsible for the Mortgage After Divorce? When you and your spouse separate, the mortgage responsibility doesn’t just go away. If both of your names are on the mortgage, you're both still responsible for the loan—even if the divorce agreement grants one person the house. This is because

1. Understanding the Legal Framework: Community Property vs. Equitable Distribution In the U.S., property division laws vary by state. Some states follow community property laws, where assets and debts acquired during the marriage are considered joint property and are typically divided equally. Oth

Divorce is an emotional and challenging experience, and when it comes to dividing assets, one of the most complicated aspects can be real estate. The family home or other properties may represent significant financial and emotional value, and navigating the sale, purchase, or division of real estat