Don’t Wait to Refinance or Sell Before Updating Homeowners Insurance During and After divorce.
As Divorce Mortgage Planners, we regularly see divorcing homeowners not updating their insurance policy until later. For example, they may wait until they refinance the marital home mortgage or when only one spouse remains in the marital home until selling the house...
Quit Claim vs. Warranty Deed in Divorce
Transferring ownership of real property incident to divorce? Most divorce professionals request a Quit Claim Deed when transferring property for a divorce scale. A basic understanding of the various real estate deeds, i.e., Quitclaim deed vs. Warranty deed, is a must...
Using Creative Thinking During Divorce Negotiations
Having a strong divorce team with creative thinking can help solve common concerns regarding the marital home or purchasing a new home post-divorce. Couples contemplating divorce want to know “what they are legally entitled to.” It is natural to want the information...
Buying A New Home When Obligated For 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. Fortunately, this isn’t necessarily true. In many divorce situations, the spouse retaining the marital home won’t qualify to refinance...
Moving Into An Existing Rental Property Following Divorce May Have Tax Consequences
The Housing Assistance Tax Act of 2008 was signed into law on July 30, 2008, and was designed to boost the floundering housing market by providing certain tax breaks for homeowners and homebuyers. The Act provided new property tax deductions for non-itemizers and...
Need Access to Information Regarding the Current Mortgage?
I need a copy of the current mortgage statement; however, I’m not on the mortgage. I need to refinance the existing mortgage on the marital home, but the current lender won’t provide a payoff because I’m not on the current mortgage. How does the spouse who was awarded...
Mediating the Marital Home with a CDLP™
Where does a Certified Divorce Lending Professional (CDLP™) fit into the mediation process? What is Mediation? 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...
Breaking Down the 4 Phases of Divorce Mortgage Planning
What is Divorce Mortgage Planning? Many times in a divorce, we are more focused on curing the problem at hand, i.e., distributing real property and assets, that we forget there is life after divorce. The biggest challenge is the lack of knowledge, understanding, and...
