Friday, November 14, 2008

Divorce and Mortgage - My Client Does Not Want to Move After Divorce

Many people going though a divorce want to remain in Wmaster Wmaster for sentimental Wmaster Other times it Wmaster out of spite that they want to keep the house the soon to be "ex" worked so hard to get or was proud to have. Wmaster staying in a house they cannot afford because they are emotionally attached to it Wmaster the Number 1 mistake most make when a divorce is involved. Often the client does not want to hear it but you know that they will not be able to keep the house even if they do get it in the property settlement.

Forming a relationship with a mortgage planner to work with your clients you will find an ally in Wmaster difficult financial matters to your client. Then when your client speak with a mortgage planner months in advance they can provide them with a dose of reality of what a mortgage payment will be "after" the divorce is final. This part of the conversation is often a rude awakening for many because they have not been a part of the process in the past Wmaster many times due to their circumstances they cannot provide Wmaster documentation for their mortgage.

Coming from an expert in the financial field your client may actually listen to reason. I have found that by sitting with the client and reviewing their proposed finances (as they will be post settlement) and the programs that we have available they are able to draw their own conclusions that they cannot afford to stay in the house.

This in time will save you time and your client money allowing you to focus on the legal issues at hand. In the end your client will have less financial stress which makes them a happier client resulting in more referred business for you making it a win-win.

About the author: Dave Muti, JD, RMA is the author of Mortgages: What You Need to Know.

The book contains strategies to take control of your financial future is offering answers to mortgage questions and mortgage advice to Wmaster hot real estate topics. Dave is a consultant to divorce lawyers on subjects related to divorce and mortgage and a senior mortgage planner located in New Jersey.