One of the issues mortgage lenders regularly encounter in divorce situations is the distinction between income and “qualifying” income, as defined by mortgage underwriting guidelines. Although ALL sources of income are considered “income” by the recipient, it is important to understand that from a mortgage financing perspective, not all sources of income are considered qualifying […]

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Over the years, I have seen several approaches used by divorcing couples to value the marital residence for their settlement. Listed in order of precision and reliability: Arbitrary agreement Zillow/Trulia estimates County tax assessor’s value Realtor Comparative Market Analysis (CMA) Appraisal obtained from a licensed appraiser The purpose of this article is not to assess […]

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Protecting Your Credit During and After Divorce

June 29, 2015

Julie (not her real name) was a successful sales executive with responsibility for the western half of the United States. She traveled extensively to call on her clients. Imagine her embarrassment and shock when her credit card was declined upon hotel checkout on one of her trips. Julie stepped out of line, composed herself, and […]

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How a Certified Divorce Lending Professional Can Help You

May 14, 2015

During my 22-year career in the mortgage banking industry, I have had the opportunity and privilege to help so many people with their home loan needs during various stages of their divorces. Whether it be a refinancing the marital home to pay off a spouse as part of the settlement, to helping a newly-single mom […]

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5 Things You Need to Know if You Plan to Keep Your Home After Divorce

May 14, 2015

For most couples, the marital home represents the largest single asset they own. It is typically a major focal point of the divorce settlement. For the spouse contemplating retaining the home, here are five major considerations to properly make this decision: Why do you want to keep the home?This is a very important, and often […]

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