At the J. Christopher Real Estate Group, we understand the complexities of real estate and life, and we have trusted lawyers that we work with to help people through the process of selling while navigating a divorce. Our experienced real estate professionals understand the issues clients face during a divorce and will provide step-by-step guidance to protect them legally and financially.

It is often helpful for sellers considering divorce to consult with a real estate agent before the divorce is settled. If the house is handled incorrectly during a divorce, one or both spouses may be ineligible to qualify for a mortgage. This could impact their ability down the road to refinance or buy a house with a new loan for years.

Not making the necessary adjustments to the homeowner’s insurance policy is another mistake divorcing couples make. Even if two people are married and on the deed, it does not necessarily mean that they are both insured on the home. If one spouse is listed only as an insurance beneficiary and remains in the home, he or she will not be covered after the divorce is final.

There are other factors that must also be taken into consideration when dealing with real estate during a divorce. What is the most effective way to agree on the value of your home? How will you equitably split the proceeds from the sale of your home? What are the tax implications for both parties once the sale is complete? These complex questions can easily be managed by an experienced, trusted real estate professional. At J. Christopher Real Estate Group, we recognize the emotional and financial burden of divorce and are committed to ensuring a smooth and stress-free process.

We at the J. Christopher Real Estate Group know the process of short selling a house can be difficult, but we want to do everything we can to help. When you find a willing buyer, but the offering price is less than the mortgage on the home, you have the option for a short sale.

If you need your name removed from a mortgage and there is no equity in your home, a short sale may be your best choice. In the post-Great Recession world of today, lenders are more forgiving about short sales. Getting approved for a short sale is not always easy, but after a divorce, lenders are more apt to agree to a short sale as opposed to a foreclosure.

Lenders are not being generous by allowing a short sale, they are being practical. By opting for a short sale, they are protecting their best interests. They do not want the home to foreclose. In many cases, lenders will not agree to a short sale unless you are behind in your mortgage payments and unable to pay a shortfall.

An example of a short sale would be if you owe $200,000 on a mortgage, and the property has dropped in value to the point you could only sell it for $180,000. In such a case, a lender may be more willing to let you sell it for $180,000 and walk away from the difference.

At the J. Christopher Real Estate Group, we understand that considering a short sale is a hard decision. Our team of real estate lawyers will work for your benefit, and we will deal with the banks for you. Someone on our team will always be available for whatever questions you may be struggling with, and we will help you put a plan together before you fall behind.

We at J. Christopher Real Estate Group care about our clients in their time of need. Give us a call at 401.830.6906 for a confidential free consultation in the privacy of your own house when you are ready to talk about short selling your home.

Rhode Island Housing’s new Down Payment Assistance Program is helping hundreds of Rhode Islanders achieve their dream of homeownership. Designed to help strengthen housing demand and increase homeownership opportunities for first time homebuyers, this program offers $7,500 in down payment assistance.

J. Christopher Real Estate Group has seen first-hand the difference this program has made for first time buyers. We strive to help buyers enjoy the experience of owning a home, while respecting the reality of a budget. If you are considering purchasing your first home, now is the time to get the process started. The Down Payment Assistance Program is a great way to manage your budget, while also making positive steps towards your future.

To qualify for the program, the property must be located within one of the six communities hit hardest by the foreclosure crisis: Cranston, East Providence, Pawtucket, Providence, Warwick, Woonsocket. The individual seeking to purchase must be a first-time homebuyer purchasing a 1-4 family home or condominium. The individual must also complete a homebuyer education course (offered online through Rhode Island Housing), meet Rhode Island Housing loan and income limits, obtain a Rhode Island Housing-funded first mortgage through a participating lender or Rhode Island Housing, and occupy the home as a primary residence. If you meet these requirements then this program was designed for you. We want to help ensure that you are making responsible, reliable and reasonable decisions when it comes to buying a home and this program was designed to help you do just that.

To learn more about the Down Payment Assistance Program and whether you qualify, please feel free to give us a call at 401.830.6906. We specialize in first time homebuyers and want to be a resource for you to help make the process as stress-free and smooth as possible.