One of the best things about our jobs is putting a family in a new home. Unfortunately, the happiness that surrounds that event can fade when we learn divorce is forcing the sale of a property, or one spouse is out shopping for a new home.
Whether a home is a couple’s most valuable asset — or biggest liability — it often becomes the greatest point of contention. Who stays? Who goes? And who pays for what? There are countless emotional, financial, and legal questions surrounding the house that need to be resolved.
Divorce can impact a client’s income, credit, equity, and assets — any of which can determine whether or not a client can get the financing he or she may need to stay in the home or buy a new one.
If you have clients who are in the process of getting divorced or are recently divorced, working with a lender can help them determine what they will need to get a mortgage (if they want one), what they may qualify for, and what they can expect to pay monthly. It is not an easy process and takes a lender with the programs and expertise to help navigate that process.
While Embrace does not offer legal advice (we leave that up to the lawyers), we do have the expertise in mortgage lending to ensure your clients understand what it will take for them to get a mortgage — enabling them to keep their current home or purchase a new one.
After working with us, we hope your clients will feel that joy of homeownership again once they come out on the other side of divorce.