Divorcing Your Mortgage Archives | Page 3 of 4 | The Richard Woodward Team Nexa Mortgage

Avoiding a Contempt of Court Issue after a Divorce A Contempt of Court issue when a former spouse fails to execute their obligations in the marital settlement agreement with regards to real estate and mortgage financing can be avoided if the right steps are taken in advance. There are many times when mortgage financing is…

Who is on your professional divorce team?

Avoiding a Contempt of Court Issue with Divorce and Real Estate. Divorce is a complicated thing, you should work with a team of professionals, not just an attorney. A Contempt of Court issue when a former spouse fails to execute their obligations in the marital settlement agreement of a divorce with regards to real estate…

The Cost of Renting vs. the Cost of Owning during a Divorce

The Cost of Renting vs. the Cost of Owning Many divorcing clients will make the decision to rent following a divorce for a variety of reasons; however, there’s more to the cost of renting vs. buying than just comparing the dollar cost of the payments. Many will argue against the value of purchasing a home…

Who is on your Professional Divorce Team? Every successful divorce case requires the execution of a professional team; so, who’s on yours? A divorce attorney may be an expert in divorce law, but they are not licensed loan officers. Divorce mortgage lending requires expertise in not only lending, but an understanding of divorces. A Divorce…

Divorcing Your Mortgage Newsletter. May 2018, bringing you Divorce Trivia. The History of Trivia is Anything But Trivial Calling all trivia buffs! You may school your friends in every random fact from pop culture to World War II, but how much do you know about the history of trivia itself? The dictionary defines trivia as…

Dividing Up Credit Card Debt During A Divorce

Divorce can ruin your credit report. Divorce is hard enough when you combine finances, it can sometimes lead to difficult situations. Often times these difficult situations are initiated by a soon to be ex-spouse making late payments on shared accounts. These late payments appear on both of the account holders’ credit reports, despite divorce decrees. In…

Divorcing Your Mortgage Newsletter, Marital Liens Marital Liens, Lis Pendens & Mortgages Lis Pendens are notices that warn the public of lawsuits that affect real estate. They are often used in divorce cases to protect one spouse when the other tries to transfer real estate without the other spouse’s knowledge. A Lis Pendens help to…

Property Settlement Notes in Divorce Property Settlement Note – a deferred payment in property settlement used to equalize property. Used to equalize property Not taxable to recipient Does not survive bankruptcy Very often when divorcing couples negotiate the terms and conditions of a property settlement, they agree to a structured settlement, which is a series…

Divorcing Your Mortgage | Should Divorcing Clients Convert to a Roth IRA One of the primary benefits of using a Roth IRA is that you don’t pay income tax when you withdraw funds in retirement. Unfortunately not everyone meets IRS standards to contribute to a Roth IRA. The primary reason individuals are not allowed to…

Divorce Resource you need to protect yourself. A professional divorce team has a range of team players including the attorney, financial planner, accountant, appraiser, mediator and yes, a divorce lending professional. Every team member has a significant role ensuring the divorcing client is set to succeed post decree. A lending professional well versed in the…