Being in the mortgage business for 20 years I have had a lot of experience advising people who are divorcing about what to do with their mortgage.
There are many questions that arise when a married couple splits up:
- Can I afford the marital home on my current income?
- What documentation would you need from my divorce?
- Can I use spousal support and/or child support to qualify?
- Do I need to have the final divorce decree prior to closing?
- Can I access the equity in the home to pay off the ex spouse?
This list doesn’t come close to the complexity that can arise from these situations. Make sure you are enlisting the help of an expert.
Some simple advice if you are going through a divorce with a mortgage:
- Don’t delay! Some matters are extremely timely.
- Know what you qualify for before you agree to any terms.
- Consult an experienced mortgage professional that has access to lots of products. Not all products can accomplish your goals.
In this difficult time, you need a professional advising you. As the owner/broker of First Assured Mortgage, I am committed to providing all my clients with the very best rates and terms available. Please contact me if there is something I can do for you!
Have a Divorce Question? Let me help you.
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