In this episode of We Chat Divorce, Karen Chellew and Catherine Shanahan sit down with mortgage advisor Zach Taylor to tackle a significant topic for divorcing couples—navigating mortgage decisions during and after a divorce. From buying out a spouse to managing a marital home or rental property, Zach shares essential mortgage strategies to help you make informed financial decisions during this challenging transition.
Episode Highlights
- The Importance of Early Financial Planning
- Zach emphasizes the value of reaching out to an experienced divorce mortgage advisor early in the process. Learn how a simple conversation can clarify your options for refinancing, mortgage assumptions, or buying a new home.
- Key Tips for Mortgage Assumptions
- Find out why timing and documentation are critical when exploring mortgage assumptions. Zach explains how to navigate the process with your loan servicer and what qualifications are necessary post-divorce.
- Avoiding Costly Mistakes
- Catherine and Karen discuss how the Divorce Financial Portrait™ helps clients evaluate their financial options, ensuring they don’t negotiate away critical assets without understanding the full impact on their future.
- Maintaining Financial Clarity
- Zach shares actionable tips for managing support payments, running credit reports, and addressing joint debts. Learn how these steps can streamline the mortgage process and prevent delays.
- Customized Mortgage Scenarios
- Zach provides insights into tailoring mortgage strategies to your unique circumstances, offering worksheets to explore different financing scenarios and their impact on your post-divorce budget.
Top Takeaways
- Plan Ahead: Engage with a divorce mortgage advisor early to explore your options before making critical decisions.
- Know Your Numbers: Understanding your post-divorce budget is crucial to determining whether you can afford to keep or refinance your home.
- Document Everything: Get written confirmations for approvals and ensure all financial agreements are clear and enforceable.
- Stay Consistent: Steady support payments are essential for mortgage qualification—avoid variances to prevent delays.
- Leverage Resources: Use tools like the Divorce Financial Portrait™ to gain financial clarity and align your decisions with your long-term goals.
Resources Mentioned in This Episode
- AnnualCreditReport.com: Access your free credit report to identify joint debts, authorized users, and any discrepancies.
- Divorce Financial Portrait™: A comprehensive tool to prepare financially for your divorce journey. Learn more at My Divorce Solution.
- Zach Taylor’s Website: Schedule a free 30-minute consultation with Zach to discuss your mortgage options.
Connect with Zach Taylor
- Website: CrossCountry Mortgage
- Social Media: Search “Zach Mortgage” for reviews, insights, and resources.
- Phone: Zach is your go-to guy for direct conversations—reach out for personalized advice.
Listener Questions
Have questions about mortgages, divorce, or financial planning? Email us at wechat@ck11.net—we’d love to hear from you!
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