Mortgage Planning for Divorce

 

Why a Mortgage Lender Should Be Part of Your Divorce Team

divorce-teamGoing through a divorce is a difficult process – it is full of emotions, paperwork and stress on all fronts.

A mortgage lender can help you, your divorce attorney and other divorce team members navigate complicated lender requirements, tax implications, title implications and more to make smart choices when it comes to decisions about your existing home or purchases of homes in the future.

Rebecca is a Certified Divorce Lending Professional, offering specialized assistance to individuals and family law attorneys navigate the options and details related to dividing property, managing current mortgages, and preparing for future mortgages.

Download Divorce, Real Estate & Mortgages: A Checklist for Simplifying Decisions Related to Your Home during Divorce


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Latest Articles

How to Avoid Credit Catastrophe during Divorce

Divorce can wreak havoc on your credit if you aren’t careful. Divorce is a financial challenge to most, which makes monitoring one’s credit even more important. Learn how to avoid credit catastrophe during divorce.

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Divorce, Real Estate & Mortgages: A Checklist for Simplifying Decisions Related to Your Home during Divorce

For most people, their home is the most valuable asset. If you are going through a divorce, it is critical that you carefully consider your options related to your home. This checklist can help you and your attorney determine your best options. Apply these questions to any properties that you and your spouse own.

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Alimony or Mortgage Interest Deduction?

As the end of the year approaches, now is a good time to begin preparations for taxes. Of particular interest is understanding whether payments paid towards mortgage interest on the marital home are available as a mortgage interest deduction or if they are considered...

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A Primer on Owelty Loans in Texas

Texas has unique requirements for ability to place liens against a homestead property. In layman’s terms, Texas law allows mortgages on homesteads for the purposes of buying a home, refinancing a mortgage, paying property or other taxes, home improvement, or obtaining...

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The Marital Home: To Sell or Not To Sell

When there is a marital home (or other real estate) involved in a divorce situa-tion, the same question almost always arises: “What should we do with the marital home?” Typically, many reasons to keep the home and many reasons to sell the home are present and as the...

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Mortgages and Roth IRA Conversions

Due to 2010 changes in limits on converting funds from a traditional IRA to a Roth IRA, such conversions became a good idea for many. In a divorce situation, it is important to consider this option when dividing assets. Whether in a divorce situation or not, accessing...

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Continuity of Obligation for Mortgages During Divorce

Often times in a divorce situation, only one of the parties is currently obligated on the mortgage for the marital home. When the party who is NOT obligated on the mortgage is awarded the marital home, and thus is required to refinance the current mortgage into their...

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Can I Keep the House?

One of the hardest decisions in divorce settlements is whether or not one of the parties can keep the marital home once the divorce is complete. Reaching a decision requires much thought, preparation and thorough financial analysis. The marital home is often an...

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The Hurdles of Mortgage Financing & Divorce

Mortgage financing concerns are often a touchy subject in divorce situations. Particularly when one spouse is dependent upon income awarded from the divorce for mortgage qualifying purposes and also when contingent liabilities are present, such as a jointly held...

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5 Tips for Selling A Home During Divorce

Often during divorce comes the sale of the marital home. In divorce situations, the relationship between the sellers and the Realtor® should be a little bit different to ensure the best outcome and experience. 5 Tips for Selling A Home During Divorce The divorcing...

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Property Settlement Notes, Mortgages and Divorce

When dividing assets during a divorce settlement, a property settlement note is often a useful tool. A Property Settlement Note is a deferred payment of property value used to equalize or distribute assets. A property settlement note is most often used when one of the...

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Managing Credit During Divorce

Not only can divorce lead to emotional strain, it can also cause all sorts of financial problems. All those shared accounts and co-signed loans that once seemed so romantic are now the cause of major issues. While divorcing spouses may or may not be willing to work...

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Protect Your Identity

It is a sad truth, but many couples go through messy divorces that leave both parties as bitter enemies in the end. When this is the case, it is important to consider the potential damage that a disgruntled spouse could do to your credit. Armed with your Social...

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Federally Insured Mortgage Loans and Divorce

A federally insured mortgage loan, whether FHA or VA, may offer more lenient underwriting guidelines for divorcing clients under special circumstances. An FHA insured loan is a US Federal Housing Administration mortgage insurance backed mortgage loan which is provided...

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Divorcing? Discover Your New Home Ownership Dreams

Part of the emotional baggage of divorce is the destruction of dreams. As a Certified Divorce Lending Professional®, my main objective is to help divorcing individuals discover - and bring to life - new home ownership dreams. While a CDLP can help during and/or after...

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Divorce and Credit Card Debt

What happens to the liability for credit card debt in divorcing situations? In a divorce, the extent of a party’s liability for credit card debt depends on three key things: whether they live in a common law or community property state whether the debt is for a joint...

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Top 10 Things to Know About Mortgages and Divorce

The divorcing have many questions when going through a divorce, especially when real estate and mortgage financing are involved. Here are ten top things every divorcing person should take into consideration where dealing with the marital home and/or other real estate....

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Divorce and Your Credit Report

Many divorced couples run into financial problems a few months after a divorce when an ex-spouse starts making late payments on a shared account. These late payments appear on both of the account holders’ credit reports, despite divorce decrees. Once the records...

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Do’s & Don’ts for Mortgages During Divorce

Divorce is often emotionally and financially challenging, but following a few key do's and don'ts will minimize the frustration and set both parties on a path of strong financial standing. Do's 1. Engage a mortgage lender into your divorce team very early in the...

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