Divorce & Real Estate: What Happens to Your House, Mortgage & Equity? | Episode 23

In this episode of More Than a Mortgage, hosts Mike and Tom are joined by veteran Chicago real estate broker Sophia Klopas and renowned family law attorney Tom Field to break down one of the most challenging situations a homeowner can face: divorce. Together, they discuss how divorce impacts homeownership, what happens to your mortgage and equity, whether you should keep or sell the house, refinancing challenges, school district considerations, prenups, property ownership, and the biggest financial mistakes couples make during the divorce process. They also share practical advice for homeowners, buyers, and real estate professionals navigating these difficult situations. 🎯 In This Episode: • What happens to your home during a divorce • How mortgages are handled when couples separate • Selling vs. keeping the marital home • Refinancing challenges after divorce • How children and school districts influence housing decisions • Common legal misconceptions about property ownership • Why prenups are becoming more common • Costly mistakes to avoid before and during a divorce Whether you're a homeowner, homebuyer, Realtor, lender, or simply planning for the future, this conversation offers valuable insights that could save you time, money, and unnecessary stress. 👍 Like this video if you found it helpful. 💬 Leave your questions or experiences in the comments. 🔔 Subscribe and turn on notifications so you never miss a new episode of More Than a Mortgage. Loan Questions? Connect with the Team: Mike Black https://crosscountrymortgage.com/chic... Tom Merritt https://crosscountrymortgage.com/chic... 📲 Follow More Than a Mortgage Instagram:   / morethanamortgagepodcast   Facebook:   / more-than-a-mortgage-podcast-61575873275704   Spotify: https://open.spotify.com/search/More%...