Conversations About Divorce – Divorcing Your Mortgage
For most couples, the marital home represents the bulk of their wealth and the single largest asset. If one party wants to keep the marital home, it involves buying out the other party and that typically means refinancing. If you’re leaving the marital home, then chances are you’ll be looking to buy another home and that means finding mortgage financing. Whether you’re refinancing or getting a new mortgage, it’s complicated and what you don’t know could hurt you …
- Can you be released from your current mortgage?
- What is a contingent liability?
- What is the difference between a Cash Out Refinance and an Equity Buyout?
- What it takes for spousal support and child support to be considered qualified income, and
- Why does a refund check become such a contentious issue between former spouses?
Join Mandy and her guest, Jody Bruns, a senior mortgage consultant with New American Funding as they discuss the common mistakes people make in divorcing their mortgage.
Jody Bruns is also the founder of the Certified Divorce Lending Professional certification program which she created to address the need for more education in the mortgage industry on working with clients experiencing divorce. You can find a CDLP near you at the Divorce Lending and Real Estate Association.
Jody has a helpful free booklet for download: Divorcing Your Mortgage: Top 10 Things You Should Know About Your Mortgage When Going Through A Divorce.
Are you looking other tips on getting divorced? Download Mandy’s free audio program: What You Need To Know About Divorce Preparations.