This is good information for homeowners going through divorce or separation. With permission to report, content is provided by Robert Bizzoni , mortgage agent at Mortgage Intelligence
New Spousal Separation Mortgage allows financing to 95 per cent!
It’s hard enough to get through the process of splitting assets in the event of a separation or divorce. What if one of you wants to keep the family home?
We can help.
Although new mortgage rules mean you can only refinance your home to 80 per cent of the value, a Spousal Separation Mortgage allows a buyout to 95 per cent, making it easier for one spouse to keep the home. This new mortgage can provide a fair buyout, and possibly pay off other joint debt.
When one of you wants to keep the marital home… make us one of your first calls. We may be able to help clear some of the financial hurdles. We’ll guide you through the process, structuring the mortgage for the buyout of one spouse, and then help the other spouse with the purchase of a new home as well. We believe that your home can be the asset that gives both partners a fresh start!
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