divorce attorney: Voluntary Child Support Payments and Mortgage Financing | Divorce - 12/10/18 02:14 PM
Voluntary child support payments are the right thing to do in many cases when going through a divorce but how does that affect mortgage financing? Qualifying for a mortgage during or after a divorce may seem cumbersome to many with the proof of receipt of income, copies of documents and more. But what if there is no divorce? What if there is no court order for child support and all payments are voluntary? Can voluntary child support be used as qualified income when applying for a mortgage?
Yes, voluntary child support may be used as qualifying income for a mortgage but … (0 comments)

divorce attorney: Can You Transfer a Mortgage in a Divorce? - 11/27/18 01:51 PM
With 70% of all divorces in the United States involving real estate, one of the first questions to arise is “Can you transfer a mortgage in a divorce?” The answer is yes and no – depending upon what type of mortgage you have.
There are typically only 3 ways to transfer a mortgage in a divorce: Transfer an assumable mortgage by working with the current lender to approve a qualified individual to take over your current mortgage. Typically, the loan type must be an assumable loan type. Unfortunately, assumable loan types may be challenging to find. Most government loans, FHA and VA are … (3 comments)

divorce attorney: How to divide home equity in a divorce or inheritance | Owelty Lien - 11/02/18 10:52 AM
Splitting equity in a home after divorce or inheritance can be complicated in Texas without a knowledgeable team to support you or using a Texas Owelty lien.  If you’re going through a Texas divorce or recently inherited  Texas real estate, you’re likely dealing with a lot of emotions, often times both positive and negative. The financial aspects of these situations can be difficult or challenging in Texas due to our strong homestead laws. That’s where we can help. At Service First Mortgage, we can help you with the Texas mortgage and Texas real estate issues you’ll encounter, specifically how to distribute home equity in a fair … (0 comments)

divorce attorney: Divorce | Avoiding a Contempt of Court Issue with Divorce and Real Estate - 07/31/18 10:15 AM
Avoiding a Contempt of Court Issue with Divorce and Real Estate. Divorce is a complicated thing, you should work with a team of professionals, not just an attorney.
A Contempt of Court issue when a former spouse fails to execute their obligations in the marital settlement agreement of a divorce with regards to real estate and mortgage financing can be avoided if the right steps are taken in advance. There are many times when mortgage financing is a requirement post-divorce decree whether it involves refinancing the marital home to remove a spouse from the current mortgage, completing an equity buyout, or even … (0 comments)

divorce attorney: Who is on your Professional Divorce Team? - 05/09/18 01:47 PM
Who is on your Professional Divorce Team? Every successful divorce case requires the execution of a professional team; so, who’s on yours?
A Divorce Team is highly recommended to protect your finances.  According to the Financial Divorce Association, 70% of all divorces in the United States involve Real Estate. It has also been stated that 47% of divorces require the marital home to either be sold or refinanced incident to divorce.
Who is on your ‘Professional Divorce Team?
A professional divorce team has a range of team players including the attorney, financial planner, accountant, appraiser, real estate agent and yes, a mortgage professional. Every … (0 comments)

Richard Woodward  NMLS#217454, Service Beyond Expectations! Your Texas Lender (Service First Mortgage, NMLS #166487) Rainmaker large

Richard Woodward NMLS#217454

Service Beyond Expectations! Your Texas Lender

Dallas, TX

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Service First Mortgage, NMLS #166487

Address: 6800 Weiskopf Ave., Suite 200, McKinney, TX - Texas, 75070

Office: (214) 945-1066

Mobile: (972) 814-3587

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