Going through a divorce is stressful in any situation, but especially so when you and your soon-to-be-ex own a home together. If one of you hopes to keep the home after the divorce, you may have heard you should refinance before the divorce.
While there are advantages to refinancing before a divorce, there can be some serious downsides, too.
Recently, Lending Tree tasked me with writing an article on the pros and cons of refinancing before a divorce. For insights, I reached out to James Bogatay, a divorce lawyer with Bogatay Family Law in Pittsburgh, PA.
If you’re struggling to manage credit card bills, car loans, student loans and other debt payments each month, perhaps you’ve considered cashing in on some of the equity in your home to consolidate those debts into one monthly payment with a low interest rate?