What is Divorce Lending?
Mortgage financing can be a challenge in the process of handling a divorce. Having a foreseeable outcome for all parties involved, for the sake of the financial security and stability, is essential before any divorce finalizations.
What will happen with the financing of their current mortgage? What changes need to be made? Is the current home going to be kept? The process of divorce lending will be able to help you answers all these questions.
Here are the three steps of the divorce lending process:
We will analyze and assess the role your mortgage plays in your divorce settlement strategy as well as offer creative solutions on how to get approved.
Here are some questions to think about:
- Do I qualify to refinance the mortgage on the family home?
- Does my spouse qualify to refinance and remove my name from the loan?
- Can I take cash out of my home during the divorce for buyout funds, legal fees, etc.?
After gathering all the necessary information needed for this process, you can also rest easy knowing that you can have a painless mortgage process once you’re ready to apply. With the proper planning, we will help make sure that the divorce is being structured with a favorable result.
After consulting and discussing about how we can help you accomplish your goals in regards to mortgage financing even with a divorce, we can help put your financial life back on track so you can qualify for a new mortgage in the very near future.
How can The Ryan Grant Team help?
The Ryan Grant Team can help those who are undergoing a divorce gain a better understanding of the potential obstacles and opportunities in mortgage financing that they may come across both during and after the divorce. In over 70% of the divorces in the United States, there has been a need for real estate to be involved because of potential legal and tax implications that can come into play during a divorce.
Here at The Ryan Grant Team, we can help your undergo a successful divorce settlement with our understanding of the connections between financial knowledge, Divorce and Family Law, IRS Tax Rules, and mortgage financing strategies in regards to real estate and divorce.