Divorce Mortgage Services

It is important to consider your options and take steps to protect your financial future.  I will work with your attorney or mediator to help in the process.

Credit Score Protection
Your credit score will reflect any mortgages, liens in which you are named until you are removed from the loan.

Preserve Homeownership Eligibility
Keep making payments, do not stop. Even 1- 30 day late home payment can obstruct homeownership eligibility and 2 late payments will disrupt your eligibility for 2 years.

Evaluate Market Value of the Home
Not just from an appraisal. We order a  payoff statement which includes interest owed. An appraisal can give a good idea of market value but it does not determine what you actually owe.

1. Common idea is to “Quit Claim Deed” a spouse off of the title
This DOES NOT remove the spouse from the mortgage liability. Only way to do this is to refinance the mortgage. Have to qualify for the mortgage to keep the house. Can use alimony & Child support- must show 6 payments to use it in qualifying income.

2. Check the Title of the home
Make sure no other liens or claims on the property. Decreases amount of equity available if there are other liens.

3. Can use Equity in home to “pay out equity to the non house spouse”
Contact me for expert advice and a free financial assessment to help you determine your options.  I have many different loan products that can work with Self Employed borrowers, less than 2 years in business or Contract workers, 1099.  Assets can be used without liquidation.  Home Equity lines of credit available.