So you have either mutually made the decision to get divorced or you or your spouse has petitioned for it…so what do you do now?
Divorce places tremendous pressures on a family beginning with the financial demands of keeping two households afloat while paying bills on time coupled with the anxiety created by not knowing what the future will hold. Living somewhere between emotion and logic… emotion usually takes over…but you can’t afford to let it.
There is much to consider when going through divorce, more than enough to stress you. Kids aside, most people concentrate on the assets – specifically the bank account and the marital home – but few even think about the impact on their credit or home equity that is trapped in their home.
Divorce lawyers strive to negotiate the best settlements for their clients which often includes the marital home, home equity, and/or future housing needs, yet are unfamiliar with mortgage guidelines and how lenders look at the different sources of income awarded in a divorce settlement.
It is very evident there is a strong disconnect as to how divorce law, tax law and real estate financing all relate during and after the divorce process and how the various pieces truly fit together from a “team perspective.”
This is where I can help. You need a plan for protecting your credit, protecting or securing your home equity, and for your future mortgage financing in an effort to avoid hurdles or identify opportunities. My recommendations are provided paying special attention to family and real estate law, tax rules, and mortgage financing guidelines and in collaboration with your attorney and industry experts in family and/or real estate law, financial planning, and tax law. My objective is to provide you with the proper information and tools to exit the divorce fiscally intact so you can move forward with your life.
I’ve been where you are. Divorce does something screwy to a person’s head. I know because I remember, I’ve been through it. Despite my banking & financing background, this once smart, together woman turned into an emotional, brain-fogged, disorganized paralyzed, basket case! I made decisions based on emotion instead of being rational, logical, or strategic. On top of that, my parents divorced when I was a young adult, which gave me another perspective. I have experienced the problems, challenges, frustrations, and emotional battle first hand.
Divorce is a complex process that affects just about every aspect of life: financial, emotional, physical and legal. I’m here to meet you where you are and assist you with a plan so that you can step into your future.
Your Divorce Lending Professional
Family law, tax law, and other opportunities implicate divorcing couples. Equally important is the understanding of each piece of the puzzle and its relationship to their housing and real estate.
The divorce lending professional is able to identify potential consequnces from a financing and tax perspective and provide information (not advice) to the attention of the divorcing party, attorneys, and/or financial planners so they can make the call and provide the advice to the divorcing clients.
With one in every two marriages in the U.S. now ending in divorce coupled with the knowledge that 70% of all U.S. Divorces involve the disposition of real estate (Financial Divorce Association), there is a strong need for educated and knowledgeable mortgage professionals who specialize in divorce lending.