Getting your finances in order during a divorce
If you’re refinancing due to divorce, financial questions and concerns will certainly arise throughout the process. Accunet has years of experience helping people refinance their homes as a result of divorce. They key to success is our attention to detail. We take the time to document the monthly payment obligations of each party including alimony, child support and separate maintenance.
Use Accunet’s calculator to balance your income with your mortgage payments.
Our dedicated team of loan consultants will help you prepare all the documents you need for a successful refinance experience.
While your divorce does not need to be final in order to refinance, a marital settlement agreement will need to be finalized, signed and dated by both parties.
If the divorce has been finalized by the court, then a complete signed copy of the final divorce decree will also be needed along with the settlement agreement.
For those who need or want to use child support, alimony or separate maintenance as a source of qualifying income:
- We will need to verify the receipt of those payments for a minimum of six months to demonstrate that the income is stable
- We have to verify that the divorce-related income will continue at least three years from the date of application
- If you are the person obligated to make the payments mentioned above, the monthly amount will be added to all your other payments including your new refinanced mortgage payment, auto, student debt and credit card payments to determine your ability to repay the new mortgage.
Learn more about debt consolidation here.
Removing a former spouse from the mortgage debt and title
- If you’ve decided to keep your home, refinancing allows for you to legally remove your former spouse from the title, note and mortgage.
- Accunet can determine if you qualify for a new loan, which in turn could provide cash to buy out the other party and remove that party from the title, note and mortgage.
Click here to to view your options for refinancing.
Accunet Mortgage will not only help you keep track of the details, but we will also educate you on what the details are and why they’re important.
Contact an Accunet loan consultant to discuss your options after divorce.