Navigating Home Ownership During Divorce Decree Process
So, you want to keep your home in the divorce and refinance, but your lender won’t let you refinance until the divorce decree is finalized. What do you do? What are your options? Hi, I’m Tulsa Dads.Law attorney Clint Hastings. I practice here in Tulsa, Oklahoma. I focus on fathers’ rights, and I’ve been practicing for about 25 years.
Timing and Challenges in Refinancing
This is a common dilemma because lenders need to know whether you’ll have alimony or child support obligations after the divorce, and they can’t know that until the decree is entered.
What often happens—either by agreement or by judge’s order after trial—is that the court gives you a 60–90 day window to attempt refinancing once the divorce is final. If you can’t secure refinancing within that timeframe, the house must be sold, and the equity split according to the decree or court order.
Importance of Timely Action
Here’s the problem I see frequently: one party drags their feet, doesn’t make a serious attempt to refinance, and later asks for more time. Courts don’t look favorably on this. Extensions are rarely granted because it creates an unfair bind for the other party.
So, the key is to determine as early as possible whether refinancing is realistic. If it’s not, you’ll likely need to move forward with listing the home for sale.
Explore Alternative Solutions
There are some alternative arrangements that can sometimes be worked out by agreement, but they can get complex, and I’ll address those in another video.
Seek Professional Guidance Today
I hope this helps. If you’re dealing with this situation, give Tulsa men’s divorce attorney Clint Hastings a call at 918-962-0900. We’d be glad to walk you through your options and help you plan your next steps.
