rcsd: 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)
rcsd: The Value of a Certified Divorce Specialist (CDS)
- 12/08/20 01:08 PM
Divorce is one of the most traumatic transitions in life that someone can experience. Given the potential adversities financially, legally and/or emotionally, it is imperative that a Divorcing Client works with professionals specially trained to help someone going through this process.
Introducing the Certified Divorce Specialist (CDS®)
The CDS curriculum is administered by The National Association of Divorce Professionals (NADP) and covers an extensive amount of timely & relevant content aimed at training professionals to help their Divorcing Clients at a high level. As stated in their website, The Certified Divorce Specialist (CDS®) Training is for professionals in the legal, financial, mental health, and … (0 comments)
rcsd: 2021 Conforming Loan Limits - Realtor & Attorney Talking Points
- 11/28/20 11:33 AM
Fannie Mae & Freddie Mac have just announced their new Conforming and High Balance Conforming Loan Limits for 2021. If you are a Realtor, Financial Planner and/or Attorney, do you know how to articulate this great news to your Clients? Here are a few talking points:
There are 3 categories of loan types (based on the LOAN AMOUNT) Conforming High Balance Conforming Non-Conforming (Jumbo) The loan amounts have increased on each category as follows: Conforming was $510,400, increasing to $548,250 in 2021 High Balance Conforming limits vary significantly depending on county (see below for a few examples) Non-Conforming (Jumbo) limits vary depending … (4 comments)
rcsd: 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)
rcsd: Mortgage Monday @ The Career Compass - Forbearance Warnings!
- 04/10/20 04:53 PM
If you are a California Real Estate Agent, it is highly recommended that you attend The Career Compass Real Estate Success Seminar. Visit www.TheCareerCompass.com for seminar details. While we currently remain indoors, The Career Compass has started a daily Facebook Live meeting each day at 3pm PST. On Monday, April 6, 2020, Jason Gordon was the special guest host for "Mortgage Monday" and discussed the current state of the Residential Mortgage Industry with a large emphasis on the dangers of Forbearance.
Please CLICK HERE to access the 30 minute video
… (2 comments)
rcsd: San Diego Market Update - Mortgage, Real Estate & Title 4/9/2020
- 04/10/20 04:37 PM
PLEASE CLICK HERE TO ACCESS VIDEO On Thursday, April 9, 2020 Jessie Wright (Owner of San Diego Real Producers Magazine) interviewed: Jason Gordon - AmeriFirst Financial (Mortgage Lender) Henish Pulickal - eXp Realty (Residential Real Estate Agent) Jason Melim - Lawyers Title (Title Insurance Specialist)
These San Diego Professionals provided a market update and insight on what is happening in their respective industries. PLEASE CLICK HERE TO ACCESS VIDEO
… (2 comments)
rcsd: Divorcing Homeowners - 4 Puzzle Pieces
- 04/10/20 12:46 PM
Learn more about the 4 Puzzle Pieces that nearly every Divorcing Homeowner must connect before their divorce is finalized. Video footage taken at The Career Compass Real Estate Seminar at Pechanga Resort (in Temecula, CA) on January 17, 2020.
Special thanks to The Divorce Lending Association for the creation of (and their permission to use) the Puzzle Piece logo. … (0 comments)
rcsd: 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)
Nearly every Divorcing Homeowner has at least 4 distinct PUZZLE PIECES to connect before finalizing their Divorce.
Puzzle Piece #1 is DIVORCE LAW – Among other logistics, this process involves the Courts, Contracts, and a Judge. Puzzle Piece #2 is IRS TAX LAW – there might be SIGNIFICANT TAX IMPLICATIONS for specific "events" including (but not limited to) Selling Property, Receiving Alimony and/or Liquidating Retirement Accounts. The fact that I referred to this population as “Divorcing Homeowners” implies that REAL ESTATE is involved, which is Puzzle Piece #3 And where there is REAL ESTATE, there are typically questions about MORTGAGE FINANCING, which … (1 comments)
rcsd: 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)
rcsd: Responsibly Assisting Divorcing Homeowners
- 03/19/19 09:11 AM
Whether you are a Real Estate Agent or a Mortgage Lender, WE ARE REAL ESTATE PROFESSIONALS and it is our duty to responsibly help our Clients navigate through life transitions. Some of these transitions can be viewed as positive and happy, such as helping them buy their first homes, up-size due to family growth and/or job promotions, or even buying their first rental property. That said, other transitions may be negative and not-so-happy, such as death, divorce and/or financial hardships.
This brief article is meant to focus on divorce...specifically, helping Divorcing Homeowners to make educated decisions about their real estate and secured residential … (0 comments)
rcsd: Divorce Real Estate Workshops (San Diego & Temecula)
- 01/29/19 08:39 AM
As Real Estate Professionals, we are typically asked to help our clients through life transitions. While many transitions are considered "positive" (such as first time homebuyers, move-up buyers, family growth, job promotions, investment properties, dream homes, etc.), we are often asked to help with "negative" transitions as well (such as divorce, job loss, death, etc.).
We live in an era where any ambiguity can and often will be used against us in the court of public opinion. That said, I want to stress that the purpose of these workshops (and our ongoing assistance to aiding divorcing homeowners) is aimed at consumer protection. … (0 comments)
It is no longer enough to simply be "good" at your job in order to succeed in the Real Estate & Mortgage industries. There are well-funded companies poluting the airwaves with messages to Homebuyers, Homeowners, and Borrowers that professional Real Estate Agents and Loan Officers are now "overpaid" and "optional resources" to fulfill the goals of these Consumers.
Now more than ever, the true long-term Real Estate Professionals must take the … (1 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".
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