THINKING OF DIVORCE? 

Getting a divorce is one of the most stressful times in a persons life, trust me I know. When I went through my separation I was terrified of what would happen to myself and my children. Would I have to move, could I support myself and my children, how would they be impacted? Luckily I made it through that time in my life and came out the other side ok. I eventually developed a great relationship with my ex and we were able to co-parent our kids in a respectable way. Now my ex and I consider each other friends and I would be there to help him out if he ever needed me even though our kids are now adults.

When I was in the middle of the process, I found it hard to see the light at the end of the tunnel. Deciding what to do with the marital home and the joint debt is one of the most daunting tasks you undertake when going through a divorce but believe it or not there is a mortgage solution that can help tremendously. Typically lenders will not exceed an 80-85% LTV on a refinance or a debt consolidation but when it comes to divorce or separation they make an exception. We have a special spousal buyout mortgage that will allow the marital home to be refinanced up to 95% LTV so the spouse staying in the home can pay out joint debt and equity owed to their partner without having to sell. It is a fairly simple process that just requires a notarized separation agreement and an appraisal.

If you are considering separation and want to have a better understanding of your financial situation, contacting a Mortgage Broker is a smart first step. This service is free and can save you many sleepless nights. Many brokers (like myself) also work with divorce accountants who specialize in this area and can be a real asset for anyone going through separation and divorce. Divorce lawyers are not accountants and may not be aware of the financing options available to their clients. We can work with your lawyer to help reach a reasonable solution to financial issues in divorce.

In the end, you will get through this and there are many professionals out there who's job it is to make this as easy as possible. Take advantage of the resources in your community, educate yourself and remember to take care of yourself and your family.