If you’re like the majority of middle-class Americans, your home is your single largest asset. This means that deciding how to handle a mortgage is a critical part of the process of ending your marriage.
When You’re Making Big Decisions About Your Future, You Need a CDLP™
While you might be tempted to simply return to the loan officer who handled your original mortgage, the complexity of divorce mortgage planning means you need a professional with expertise in addressing the unique needs of homeowners who are ending their marriage. A Certified Divorce Lending Professional (CDLP™) has completed specialized training from the Divorce Lending Association to help them understand how family law and financial and tax planning affect real property and mortgage planning.
A CDLP™ can serve as a member of your professional divorce team to ensure that your marital settlement agreement is written in a way that will allow you to refinance your existing home or obtain a mortgage for a new property at the most favorable rates. This is particularly important if you are self-employed or work part-time and will be relying on child support and/or spousal support to qualify for financing.
Because a CDLP™ takes a holistic view of the divorce mortgage planning process, they can also help you integrate mortgage financing into your short-term and long-term financial and investment goals. This will help you reduce tax liability and interest expenses while maximizing your post-divorce cash flow.
When you choose to work with a CDLP™, you can be confident that your financial future is protected. They’ll be able to guide you through the mortgage lending process and answer any questions you might have about the best way to manage this monthly expense as you are moving forward.
Find a CDLP™ Near You
Although a CDLP™ is a financial neutral who can work with both spouses, you can still use the services of this mortgage professional even if your spouse is not interested in the added benefits of comprehensive divorce mortgage planning. The Divorce Lending Association has CDLP™ certified members located throughout the United States, so it’s never been easier to find a trained professional who can help with your mortgage planning needs. Use our directory to find a CDLP™ in your area.
When you meet with your CDLP™, you’ll receive a free copy of the Divorcing Your Mortgage Homeowner Workbook. This helpful guide features tips on managing consumer debt, determining how much your home is worth via an appraisal or a Comparative Market Analysis (CMA), preparing to purchase a new home after selling the property, and completing an equity buy-out refinance.