Why should a divorcing homeowner get preapproved for an Equity Buy-Out?
The marital home is likely to be one of the biggest assets in the marital estate. Not only one of the largest financial assets but likely to hold a great deal of emotions. The marital home may also offer comfort to one of the divorcing spouses as well as any children...
Potential Hurdles that may Derail Mortgage Financing in a Divorce
The Certified Divorce Lending Professional (CDLP™) on the professional divorce team has many valuable roles. One role is to help assess the income sources for mortgage financing purposes as not all income may be ‘qualified income’. A CDLP™ can bring a different...
How to Split Home Mortgage Interest in Divorce
How to Split Home Mortgage Interest in Divorce Tax issues are generally not the paramount concern of couples going through divorce. However, failure to recognize and understand the impact divorce may have on Federal Income Tax filings may lead to unsavory results and...
Deducting Mortgage Insurance Premiums as Mortgage Interest Deduction
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
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!
“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...
How a CDLP can help during the Divorce Mediation Process
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...
QuitClaim Deed vs. Warranty Deed
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...
