American Mortgage Solutions
Certified Divorce Lending Professional
in Indiana, Colorado, Kentucky, Tennessee, Florida or Texas.
How Does the House Vetting Process in Divorce Work?
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Brady Webb
You must consult with a Certified Divorce Lending Professional when you know that your divorce may involve real estate and mortgage finance matters.
The thing is, the members of a professional divorce team may already include an attorney, financial advisor, accountant, appraiser, mediator, and, yes, a divorce lending specialist, so it shouldn’t come as a surprise that you would need one in the first place, especially in the state of Kentucky.
Why Do I Need to Work with a Licensed Divorce Lender?
That said, to ensure that the divorcing client is prepared to succeed after the decree, every team member must play a critical role, and the Certified Divorce Lending Professional (CDLP) is no different. They offer financial experience and knowledge of a firm grasp of the relationship between divorce and family law, IRS tax regulations, and mortgage financing techniques as they pertain to real estate and divorce.
In such a case, the advantages of having a CDLP on your expert divorce team may include the following.
- They are committed to keeping themselves informed about the constantly evolving business standards and tax laws as they apply to divorce cases.
- They are dedicated to providing their divorcing clients with a higher caliber of service.
- They are knowledgeable about certain mortgage regulations that apply to clients going through a divorce.
- They are qualified to collaborate with other financial neutrals throughout a divorce with the help of professionals.
- They can assist you in putting into practice a well-planned divorce settlement arrangement to maximize your chances of obtaining mortgage finance after the decree.
- They can offer advice on financial planning techniques that can help divorcing clients find mortgage financing options for keeping the current marital home while ensuring the departing spouse’s capacity to obtain financing in the future.
- They can spot potential issues with support and maintenance systems that can contradict with available mortgage funding.
- They can present chances for real estate portfolio restructuring to boost available cash flow when necessary.
What Are the Other Roles of Certified Divorce Lending Professionals (CDLPs)?
The financial neutral will always be one of the most crucial members of the collaborative divorce team. After all, they have the responsibility of being an unbiased professional in their area of expertise. The need for a Certified Divorce Lending Professional (CDLP) as a financial neutral on your team increases when real estate assets make up a significant portion of the marital estate.
Negotiations break down over financial issues or concerns in many divorce situations, frequently resulting in litigation. As a financial neutral, the CDLP provides practical solutions to negotiating roadblocks and provides both parties with a fair, detailed financial appraisal of the present mortgage and future mortgage financing requirements.
That said, the CDLPTM can serve a number of purposes in a collaborative divorce, depending on each specific circumstance, such as:
- Offering answers and needs for both partners to secure current and future mortgage finance will help with the collaborative process.
- Giving advice on the financing requirements and affordability for an equity buyout and refinance of the marital home.
- Evaluating the likelihood that one spouse would be able to meet the requirements for mortgage financing utilizing support income, such as maintenance and child support, as your qualifying income.
- Providing solutions for pay-offs and analyzing debt pay-off scenarios to satisfy mortgage financing criteria
- Locating and obtaining the financial records required to support mortgage lending requirements.
Conclusion
Indeed, hiring a Certified Divorce Lending Professional is an important step for those considering a divorce. Not only do they provide financial insight and advice, but they also specialize in handling the unique financial aspects of a divorce. They are knowledgeable in the laws and regulations of divorce and can help ensure that the financial aspects of the divorce process are handled correctly throughout the process.
Get In Touch With Your Florida Mortgage Specialist
If you are looking for well-trusted and experienced mortgage brokers in Louisville, KY that may help you with your divorce loans, look no further than our experts here at American Mortgage Solutions. We are dedicated to ensuring your home purchase or refinance experience in Kentucky is smooth, seamless, and stress-free. Contact us today at (502) 327-9770 for Louisville KY Office and for Cape Coral FL Office (239) 766-8344 and let us discuss your viable home financing options. American Mortgage Solutions is licensed in multiple states: Kentucky, Florida, Tennessee, Indiana and Colorado.
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Copyright © 2023 | American Mortgage Solutions | NMLS: 1364/MB73346
Licensed in: FL, KY, TN, IN, CO, TX
FL-MBR1574, TN-135166
These materials are not from HUD, FHA, the USDA, or the VA. These materials were not approved by any government agency. They are independent of any government agency. We are not in any way affiliated with any organization listed or referenced within this website, including HUD/FHA/USDA/VA. The inclusion of various education, information, web links, or materials are not an endorsement of the Sender or any of its employees or business partners. For information directly from HUD/FHA, visit https://www.hud.gov/guidance For information directly from the VA, visit http://www.benefits.va.gov/HOMELOANS/ For information directly from the USDA, visit http://www.usda.gov/wps/portal/usda/usdahome?navid=GRANTS_LOANS