Divorce & Mortgages: Avoiding Costly Mistakes Attorneys (and Clients!) Make
Divorce is a complex emotional and financial journey. For family law attorneys and their clients, navigating the intersection of divorce settlements and mortgage lending can be particularly tricky. Misunderstandings about mortgage underwriting rules can lead to settlement agreements that create major roadblocks for clients seeking to refinance or purchase a new home. As a Certified…
Read MoreDivorce & Your Business: Navigating Mortgages When You’re Self-Employed
Divorce is a financial whirlwind, and if you’re a business owner, it’s like adding a complex equation to an already challenging situation. Qualifying for a mortgage with fluctuating income, tax deductions, and lender scrutiny can feel overwhelming. But it doesn’t have to. As a Certified Divorce Lending Professional (CDLP) in Michigan, I specialize in helping…
Read MoreHELOCs & Divorce: The Hidden Debt Trap You Need to Avoid
Divorce is a complex financial puzzle, and while most couples focus on the mortgage, there’s a sneaky financial trap lurking: the Home Equity Line of Credit (HELOC). If you’re divorcing and have an open HELOC, you’re at risk. These “future advance mortgages” can create major headaches if not handled correctly. As a Certified Divorce Lending…
Read MoreSelling the Marital Home in a Higher-Interest Rate Market: Challenges & Strategies
Divorce often requires selling the marital home, but in a higher-interest rate market, that decision becomes even more complex. Not only do you need to sell at the right price, but you also need to consider the budgetary impact of buying your next home—all while navigating the emotional and logistical hurdles of divorce. This guide…
Read MoreThe Divorce Real Estate Team: Building Strong Partnerships
Divorce is one of the most challenging transitions in life, and real estate decisions play a crucial role in the process. A successful divorce settlement often requires collaboration between multiple professionals, including family law attorneys, Certified Divorce Lending Professionals (CDLPs), and real estate agents who specialize in divorce. Together, this team ensures that divorcing clients…
Read MoreMichigan Divorce Mortgage Strategies: Is an Assumption Right for Your Marital Home?
A mortgage assumption allows one spouse to take over the existing mortgage without changing the loan terms. This means the interest rate, loan balance, and monthly payment stay the same—only the responsibility for the loan changes. However, not all mortgages are assumable, and there are two types of assumptions to consider in divorce cases: Qualified…
Read MoreMichigan First-Time Buyer’s Secret: Your Guide to Down Payment Assistance & MSHDA Loans
Are you a first-time homebuyer in Metro Detroit or Michigan struggling to save enough for a down payment? A mortgage with down payment assistance might be the solution you’re looking for. But what exactly is a mortgage with down payment assistance, how do you qualify for one, and who can benefit from this type…
Read MoreMichigan Gray Divorce: How Reverse Mortgages Can Preserve Senior Home Equity (CDLP Wisdom)
Divorce among seniors, often referred to as “gray divorce,” is on the rise. For couples over 55, dividing assets often involves unique challenges, especially when it comes to real estate. A reverse mortgage can provide a flexible solution, allowing one spouse to retain the marital home while ensuring the other receives their share of equity.…
Read MoreDivorcing with a VA Loan in Michigan? Understand Your Options for Assumptions & Refinancing
Divorce is challenging for any couple, but military families face unique complexities, especially when it comes to real estate and VA loans. Whether you’re an active-duty service member/veteran or the spouse of one, understanding how VA loan entitlements and property division work is essential for a smooth transition. Key Challenges in Military Divorces Handling VA…
Read MoreCertified Divorce Lending Professional: Essential Mortgage Strategies for Michigan Divorce
Divorce is never easy, and the complexities of dividing real estate and managing mortgages often add to the stress. That’s where a Certified Divorce Lending Professional (CDLP) comes in—a specialized mortgage professional uniquely qualified to guide divorcing clients through the financial and emotional intricacies of real estate decisions. Why Divorce Mortgage Planning Matters The marital…
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