Life Events

What Happens During Probate
By Bart Bartels, Mortgage Loan Officer Probate is the judicial process whereby the last will and testament of a loved one is validated as a public document in a court of law, or in the case of an individual not having a will, the matter of settling the estate according to state law. The first step in the legal process is granting probate to administer the estate of a deceased person, resolving all claims and distributing the deceased person's property under a will. The legal validity of a deceased person’s will is determined by the probate court and it grants approval, also ...
Moving Out of Your Parents’ House: The Costs and What to Expect
By Mike Bennett, Sr. Mortgage Loan Officer Moving out of your parents' home is another line item on the list of adult firsts. It is a rite of passage signifying independence and maturity, but sprinkled with a big dose of reality. Like any important decision, weigh the pros and cons before doing anything in haste. If you decide to move on, be prepared for what's in store. Housing Depending on your financial situation, career path and life goals, determine if you want to rent or buy. If you think you are ready to buy a house or condo, you will need to qualify ...
Selling Your Home During a Divorce
The decision of going through a divorce on its own can be a difficult process to manage for all parties involved. Owning a home and making decisions about what to do with the property before, during, or after the divorce process can also be challenging. There are essentially three choices to be made concerning the home when contemplating a divorce: Sell during the divorce process One spouse to retain ownership after the divorce while buying out the other for their half of the property Selling the property after the divorce is finalized with an agreed payout We will focus on looking ...
What to Do With Your Parents’ Home When They Pass
By Stanley Zajdel, Mortgage Loan Officer The passing of one’s parents is a difficult time. The most important thing you can do is take time to grieve. Try not to make any important decisions about your parents’ home until you are in the right state of mind. Once you are ready, make sure the estate has been through probate and has passed on to the proper heirs and beneficiaries according to their will. Consult with an attorney to handle probate. It can be a complicated process, but doing it right the first time will save you unwanted frustration and money in ...
How to Manage Getting Married and Buying a Home
By Carrie Soffia, Mortgage Loan Officer Congratulations on your upcoming nuptials! Wedding plans have begun and you decide to start looking for a new home to begin your life adventure in. Before making these two big commitments, consider your options, make a plan, budget accordingly, and don’t forget to breathe! Consider Your Options To buy or not to buy a home before your big day? That is one question to consider! Determine the financial impact it will have on your immediate future.  Some cost saving options would be asking family or friends to help out by gifting flowers, catering, and videography or photography ...
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