Call me today at 604 771 5192 to find out if you are eligible for a Spousal Buyout Mortgage.
Divorce or Separation is hard enough to endure emotionally, but the financial breakup can become very stressful and complicated. You do have options, both in the period preceding a final agreement as well as once a Separation or Divorce terms have been finalized.
Your current mortgage lender may not necessarily be the best suited to your changing needs and I have dozens on institutions and alternative lenders who can provide financing in these circumstances. In addition to the equity in the property there are other factors to consider such as child and/or spousal support payments and joint debts to payout. Call today and I can present the relevant options to your situations.
For the purposes of a buyout in the right circumstances a client can borrow up to 95% of the property’s value
Susan and Peter both own their home but are going through a divorce. They have an estimated 10% equity in their home. The bank has indicated that they can’t refinance and must sell. Susan want to keep the home and live in it with the children. They have agreed that Peter is entitled to $25,000 in equity to buy his new home.
Spousal buyout is the solution! Peter sells his share of the home to Susan for the appraised value (appraisal ordered by mortgage broker). Peter receives $25,000 as a disbursement of the sale. The title of the home is transferred to only Susan.
Call me at 604 771 5192 today to discuss your specific circumstance and I’ll present some options
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