Category: Michigan Divorce Lending

Divorce Lending Series – Part Six – Documentation Needed

January 23, 2019 Marc Edelstein Michigan Divorce Lending 0 Comments

Each divorce is unique and the documentation needed will vary based on the circumstances. In addition to the standard mortgage financing documents like, tax returns, W2’s/1099’s, pay stubs, and bank statements, the most common documents needed in a divorce lending situation include, but are certainly not limited to: Executed copy of the final divorce settlement agreement, […]

Divorce Lending Series – Part Four – Mortgage Guidelines That Matter In Divorce

December 7, 2018 Marc Edelstein Michigan Divorce Lending 0 Comments

For a Certified Divorce Lender, one of the most important, if not the most important goal, is ensuring our clients housing goals are met, post-decree. In order to do so, a Certified Divorce Lender must be educated in the mortgage lending guidelines impacted by divorce. There are several impacted, but the three most common are: Contingent Liability A jointly obligated debt in which […]

Divorce Lending Series – Part Two – Maintaining Credit During Divorce

December 3, 2018 Marc Edelstein Michigan Divorce Lending 0 Comments

Maintaining your credit during divorce can sometimes be a challenge. However, understanding what impacts your credit score ahead of time can be very beneficial. Here are a few suggestions to help maintain your credit during the divorce. Communication between both parties can help avoid any miscommunication as to who is paying what bill Ask each […]

Divorce Lending Series – Part One – Timing Of Filing The Divorce Petition

November 30, 2018 Marc Edelstein Michigan Divorce Lending 0 Comments

The timing of filing a for divorce with the court has a direct impact on mortgage financing. When a divorce is filed, most mortgage lenders will require either a temporary settlement agreement or final divorce settlement agreement, also known as the final decree of divorce, in order to complete and close a new mortgage application and/or loan. […]