In today's market, various divorce certifications are available, but what distinguishes a Certified Divorce Lending Professional (CDLP®) from the rest?
Each divorce team member brings unique expertise to the table, making it impossible for one person to understand all the different variables involved in ending a marriage. Just as a divorce attorney ensures that agreements are legally sound and a child specialist minimizes the emotional impact on children, a CDLP® focuses on helping clients achieve their homeownership dreams by securing the right mortgage financing.
Key Contributions of a CDLP® to the Divorce Team
A CDLP® plays a crucial role in the collaborative divorce team by:
- Identifying Potential Conflicts: Addressing conflicts between the divorce settlement, the mortgage, and the real property proactively.
- Advising on Mortgage Planning: Offering mortgage planning options to minimize taxes and interest expenses while maximizing cash flow.
- Ensuring Correct Payment Agreements: Assisting clients relying on child support or spousal maintenance to structure payment agreements properly for mortgage qualification.
- Analyzing Consumer Debt: Helping clients understand steps to qualify for favorable financing options in line with their settlement agreement.
- Providing Home Equity Information: Guiding homeowners who wish to sell in making smart decisions about their home equity options and assisting with equity buy-out preapproval.
The Importance of Continuing Education for CDLPs®
Yes, maintaining your CDLP® certification requires continuing education, and here’s why it’s worth it:
Continuing education involves learning after earning a certification or designation. Many professionals wonder if ongoing education is necessary after achieving their credentials. The answer is yes. In rapidly evolving fields like family law, financial and tax planning, and mortgage lending, continuing education is vital for career success and survival.
Attorneys, financial advisors, mediators, real estate professionals, and mortgage professionals all have continuing education requirements. It makes sense that a CDLP®, who works across these five areas, should also maintain ongoing education. The CDLP® certification is the only divorce real estate and mortgage program requiring continuing education to uphold its high standard of excellence.
The Role of Divorce Mortgage Planning
Divorce Mortgage Planning involves creating strategies that align with the desired outcomes, pairing needs with available options, and incorporating necessary details into an executable settlement agreement. This approach ensures closure and peace of mind.
A CDLP® works directly with the divorce team, integrating divorce mortgage planning into the overall process. They bring a unique and comprehensive understanding of the intersection of family law, financial and tax planning, real property, and mortgage planning.
This is for informational purposes only and not for the purpose of providing legal or tax advice. You should contact an attorney or tax professional to obtain legal and tax advice. Interest rates and fees are estimates provided for informational purposes only, and are subject to market changes. This is not a commitment to lend. Rates change daily - call for current quotations. The information contained in this newsletter has been prepared by, or purchased from, an independent third party and is distributed for consumer education purposes.
