divorceloanpro: Divorce Equity Buyout - How To Pursue When You Want To Keep The Home
- 12/15/20 11:01 AM
When Homeowners decide to pursue a divorce, it is fairly common for one of the Divorcing Homeowners to want to stay in (and retain) the home. For purposes of gender neutrality, we refer to the Spouse who wants to stay in the home as the "In Spouse" and the Spouse who departs the home as the "Out Spouse". With the above in mind, there is typically at least 1 mortgage secured by the "marital home" which is often in the names of BOTH spouses. In addition to wanting his/her share of the equity in the home, the "Out Spouse" will typically demand … (1 comments)
divorceloanpro: Divorce Mortgage Tips for Homebuyers & Homeowners
- 11/11/20 08:58 AM
Let's face it, divorce is a tough emotional, financial and legal transition. Obtaining a mortgage can be complex as well. Combining the two can be even trickier...especially if one is unaware of certain divorce-related mortgage nuances.
Whether you are keeping the marital home (and "buying out" your ex-spouse) or seeking to purchase a different home, please keep these items in mind:
Mortgage Lenders never assume! While Lenders can forecast an approval, prior to funding your new loan, a Lender will need a definitive written agreement signed by all parties to clarify whether any monthly spousal support will be paid by either … (0 comments)
There is often a disparity between "Real Income" (the amount of money we actually receive) and "Qualifying Income" (the amount of income that is recognized on a mortgage loan application). With regards to receipt of Alimony and/or Child Support, this disparity is often accentuated. Below are a few things that need to be known by all Divorcing Homeowners and/or the Professionals who serve them. Divorce Mortgage guidelines are unique.
"The Rule of 6/36" (Part 1)
The first number (6) pertains to "historical receipt of income. The … (3 comments)
divorceloanpro: Podcast - Real Estate, Mortgage & Title Industry Updates 5-1-2020
- 05/02/20 03:16 PM
If you are a California Real Estate Agent, I highly recommend you become a member of The Career Compass Real Estate Sales Training. CLICK HERE to visit their website to learn more about how they can assist you with the process of acquiring your CA DRE CEU's for License Renewal, learn timely business development techniques, while understanding how to sell against the iBuyer platforms which threaten your market share.
On 5/1/2020, I was a co-Host on the Career Compass podcast and was joined by Brad Brittain from North American Title. Among the topics of discussion are the bigger picture economic implications of … (2 comments)
divorceloanpro: Forbearance Danger (that the Media is not telling you)
- 04/07/20 07:55 PM
Let’s do some ‘mortgage forbearance math’ to help display a bigger picture of what we currently face. Mom and Dad have a mortgage payment of $2,500 per month. Dad gets laid off from work. Dad hears all of the media reports that “Mortgage Lenders must grant you a forbearance if you have been adversely impacted by COVID-19 in any manner.” Dad calls the Mortgage Servicer, and demands the forbearance he is “entitled” to. In one phone call, he gets “6 months off" from paying his mortgage. Seven months later, Dad is finally back to work, and hasn't been able to save any money during the forbearance period. Forbearance … (19 comments)
divorceloanpro: Divorce R/E Agent Workshops - Learn How To Help Divorcing Homeowners
- 03/26/19 12:07 PM
Divorcing Homeowners need the help of ethical, knowledgeable and proactive Real Estate & Mortgage Professionals to work in harmony with their Legal & Tax Advisors. With all of the emotions running high amidst a time where pivotal decisions must be made by these Individuals, we Real Estate & Mortgage Professionals have a duty to seek the highest & best results for our Clients by clarifying logistics and corresponding options.
The latest Divorce Real Estate Agent workshop locations, details & registration link can be found at www.DivorceMortgage.info.
For additional context about these Divorce Real Estate Agent Workshops in Southern California, please click here.
About The Instructor
Jason … (2 comments)
Related Links:
Jason E. Gordon
Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon
When Homeowners decide to pursue a divorce, it is fairly common for one of the Divorcing Homeowners to want to stay in (and retain) the home. For purposes of gender neutrality, we refer to the Spouse who wants to stay in the home as the "In Spouse" and the Spouse who departs the home as the "Out Spouse".
;)
;)
;)
