Insight & Advice

Deducting Mortgage Insurance Premiums as Mortgage Interest Deduction Divorcing Homeowners often find themselves having less than a full 20% down payment when purchasing their new home. When a purchase loan in first lien position exceeds 80% loan to value, mortgage...

Reverse Mortgage and Divorcing Seniors A reverse mortgage is a type of loan that allows homeowners to borrow money against the equity in their homes. Reverse mortgages enable homeowners to tap into a line of credit or receive from a lender a fixed monthly payment that...

“I can’t buy a new home if I’m still on the marital mortgage!” is often the statement made by the spouse leaving the marital home. Unfortunately, this isn’t necessarily true. In many divorce situations, the spouse retaining the marital home won’t qualify to refinance...

Mediation is a process in which a third person helps the participants in a dispute to resolve it. In order to resolve the dispute, the participants must negotiate a solution. Problem solving is part of the negotiations. The process of mediation is the management of...

The basic understanding of the various real estate deeds is a must when transferring title and ownership to real estate during a divorce situation. A real estate deed is a legal instrument (document), almost always in writing, that passes an interest in real estate...

Many times in a divorce situation, one of the parties may not be living in the marital home at the time of the divorce; however, is awarded the marital home through the divorce settlement agreement or perhaps one divorcing party is awarded an investment property that...

Mediation is a process in which a third person helps the participants in a dispute to resolve it. In order to resolve the dispute, the participants must negotiate a solution. Problem-solving is part of the negotiations. The process of mediation is the management of...

The Capital Gains Exclusion & Selling the Marital Home Buying a new home is an exciting new beginning for married couples. When the time comes to sell the home, the 4Sale sign may not be under such happy circumstances. When the sale of the marital home comes with...

A professional divorce team has a range of team players including the attorney, financial planner, accountant, appraiser, mediator, and yes, a divorce lending professional. Every team member has a significant role ensuring the divorcing client is set to succeed...

So, what now? You were awarded the marital home in the divorce but you’re not currently on the mortgage. How do you work with the Mortgage Holder going forward? Assumption & Release of Liability: When a former spouse assumes ownership of the home and the mortgage,...