divorce and mortgage: Property Settlement Notes in Divorce
- 06/07/16 03:23 AM
Property Settlement Notes in Divorce Jody Bruns, CDLP, CMMU® Property Settlement Note – a deferred payment in property settlement used to equalize property. Used to equalize property Not taxable to recipient Does not survive bankruptcy Very often when divorcing couples negotiate the terms and conditions of a property settlement, they agree to a structured settlement, which is a series of smaller payments paid over time, as opposed to a lump-sum payment. In this routine, a series of payments over a period of time comes to more than the agreed upon settlement sum because the recipient normally receives interest to compensate for the delayed … (1 comments)
divorce and mortgage: Common Credit Concerns Found with Divorcing Couples
- 06/07/16 03:21 AM
Common Credit Concerns Found with Divorcing Couples: Jody Bruns Mortgage payment is missed. Whether an oversight or intentional, when a mortgage payment is missed there are more repercussions than just a negative hit to the credit score. A single 30 day late mortgage loan payment can cause a credit score to drop by as much as one hundred points. A single 30 day late mortgage loan payment may prevent you from obtaining mortgage financing from 12 months up to 24 months depending on the loan program and investor. Marital Home in Foreclosure Proceedings. Many times in a divorce situation there are financial … (1 comments)
Property Settlement Notes in Divorce
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