Divorce Guide

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Despite our best efforts 50% of marriages end in divorce. If a marriage has to end, if you have done all you can to save your marriage, at least end it with as much dignity and fairness while keeping as much control over the process as you can. It is vital to work together if you have children or significant assets or else you will pay the price if you each hire your own lawyers. When lawyers get involved in a case, the bad feelings and cost rise significantly. Couples who mediate instead of litigate save more than just money, they save their co-parenting relationship. Divorce is hard enough without adding the bitterness and distrust that comes with a court fight. Sometimes couples are so focused on their own pain it is hard to imagine what their children are feeling. The hatred of your soon to be ex that comes with a court battle will be impossible to hide from the kids. After going through World War III, do you think you will be relaxed and comfortable raising the children with your enemy?



Divorce mediation is the best alternative for rational people whose goal is to get out without hurting each other. Some people really do want to fight. They don't mind spending all their money as long as it means the other person won't get it. Mediation wouldn't be satisfying for someone with that kind of agenda. If the idea of saving as much money as you can while staying out of court sounds good to you than you owe it to yourself to explore mediation. Once you see how peaceful divorce can be, you will be glad you mediated your case instead of fighting in court. It may sound strange that a divorce can be peaceful since most people associate divorce with hiring separate attorneys and doing legal battle, but my own practice proves that is not the case.

When the mediator is a lawyer, they do all the paperwork necessary to start and complete the divorce as well as answering all your legal questions, helping you negotiate a settlement and drafting the Marital Settlement Agreement. Use an attorney who has a powerful intention to complete the process, instead of dragging it out to line their own pockets. Everyone knows someone who has been through an ugly divorce. You have heard stories of lawyers getting more of the marital assets then the clients get. Children of a nasty divorce know how torn they feel between their parents. No loving parent would want their children to experience such a thing.

As in all areas of your life, the choices you make will determine the outcome. If you go down the adversarial road the outcome is fairly certain. There will be "winners" and "losers" and the accompanying hard feelings. It will be expensive, not only financially but emotionally. The better choice is to work together to end your marriage instead of dragging each other through the courts. As the child of divorce, let me assure you that the best gift you can give your children is a "good" divorce because the alternative really hurts!
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No Time Like...?

There are two ideal times for mortgage refinancing. If you have an adjustable rate mortgage, a great time for this is when interest rates are steadily rising. Mortgage refinancing at these time is particular attractive if you choose a fixed rate mortgage. If you shoot for a rate near your present adjustable rate, you will avoid paying increasing costs when the adjustable rates start increase.

Another good time to consider a refinance is when you can save money by getting lower interest rates. You need your monthly savings to be able to finance the costs while you are still living in the home. If you sell your home before the refinance period is complete, you will not save anything.

Cash flow problems may tempt you to lower your monthly payments by refinancing for term extension. This does not seem to be a good reason for a refinance. Unless you get a lower rate too, you will not be saving any money. It will, in fact, cost you money. Extending the term might help your cash flow situation temporarily, but you will end up paying more in total interest.

Pay Up

The total refinancing cost is made up of points, closing costs, and private mortgage insurance premiums that you pay when you take out the new loan. The points mentioned are pre-paid fees. Every point amounts to one percent of the amount that you are borrowing. If you plan to stay in the house for a while and can afford it, consider paying more points in the beginning as may get you a better interest rate and save your money in the long run.

Closing costs include a lot of fees like appraisal fees, title search fees, and recording fees, among many others. Sometimes, you may be required to have PMI. The premiums for this type of insurance reduce your savings from the refinancing process. You may also encounter a lot of hidden costs. If you pay less interest on a new mortgage, you may deduct less from your income tax return. If you pay higher taxes, then you are not benefiting much from savings because of the refinance.

There is a lot to think about when you consider mortgage refinancing. Even after determining all your costs, you still have to think about how long the refinancing will take to pay for itself. Think long and hard and consider your situation well. You are the best person to say whether this is a viable option for you or not. If you do go for it, do more research and see how you can take advantage of offers, policies, rates, and term lengths. Be wise about your financial situation, and you will end up making more confident decisions.
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About Author
Both Belinda Rachman, Esq. & Rony Walker are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Belinda Rachman, Esq. has sinced written about articles on various topics from Entertainment Guide, Health and After Divorce. Ms. Rachman has been a family law attorney since 1996 and has become so disheartened by our adversarial legal system that she walked away from a successful law practice and now only works with couples doing mediation. To listen to an audio program that go. Belinda Rachman, Esq.'s top article generates over 8100 views. to your Favourites.

Rony Walker has sinced written about articles on various topics from Finances, Breast Cancer and Mortgage. Thinking about ? Timing is essential when going for a or a. Rony Walker's top article generates over 165000 views. to your Favourites.
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