The Mortgage Interest Deduction May Be a Great Tax Planning tool as long as you understand what you are working with. Qualified Home In order to use the mortgage interest deduction, the mortgage must be secured by a Qualified Home: Main home. You can have only one main home at any one time. This is the home where you ordinarily live most of the time. Second home. A second [Read more...] about A Deeper Look at the Mortgage Interest Deduction During Equity Buy Out
Choosing Additional Resources to Complete Your Team of Advisors
The intersection of divorce, real estate and mortgage financing is real. Apart from the importance of selecting a family law divorce attorney, the impact other members on the divorce team can have is important as well. A Certified Divorce Lending Professional (CDLP) can bring a different perspective to your divorce team. With about 600 CDLP’s in the country, it is a well-trained and [Read more...] about Choosing Additional Resources to Complete Your Team of Advisors
Buying a New Home When Tied to The Mortgage on The Marital Home
One of the main concerns, when one party is retaining the marital home, is that the vacating or out spouse will not be able to qualify for future mortgage financing while their name remains tied to the current mortgage. This isn’t necessarily so, and we can help our divorcing clients with this issue with the correct verbiage contained in the final divorce settlement agreement. When a [Read more...] about Buying a New Home When Tied to The Mortgage on The Marital Home
Frequently Asked Questions about Mortgages during the divorce process
What is a CDLP? A CDLP is a Certified Divorce Lending Professional who brings the financial knowledge and expertise of a solid understanding of the connection between Divorce and Family Law, IRS Tax Rules and mortgage financing strategies as they relate to real estate and divorce. A loan officer must pass the CDLP program to receive this unique designation. A CDLP cannot charge you more fees [Read more...] about Frequently Asked Questions about Mortgages during the divorce process