Harvard-trained Lawyer, Kelly Lise Murray, co-author of Divorce This House – Not Just your Spouse!, is an expert on the pitfalls of keeping a home after a divorce. She will be detailing hidden problems like extra tax liability, damaged credit, foreclosure, bankruptcy and more at a free lecture at the Embassy Suites in Valencia on Thursday, March 11 from 7:00 p.m. to 9:00 p.m.

Murray will detail the five things she says everyone must know before completing a divorce property settlement.

• The emotional reasons to keep the house often do not make good financial sense and can leave you “house poor.” That is when you have a lot of house and little else to take to the grocery store or live on.
• Only two ways off of a Joint Mortgage: individually refinance or sell the house. That’s it. Otherwise, if you keep a joint mortgage after divorce, one late mortgage payment drops both credit scores (20-100 points) and foreclosure is a “strong negative” on both spouses credit reports – up to 7 years!
• Hidden house problems can cost you more later (roof, mold, termites) – Is Your House a Lemon?
• Hidden debt from liens on your house (liens from: tax, credit cards, gambling, etc) – Who Else Owns Your Home Equity?
• Solution is simply MORE/EARLIER: MORE due diligence (investigation/information) from MORE real estate and financial professionals, MUCH earlier in your divorce process.

To RSVP for the limited space event, those interested can email Patrick Raach, RCSD-D at patrick_raach@erscv.com. or call at 661-254-3948 ext. #103.