You’ve been awarded the home and ordered to assume or otherwise release your ex from any obligation on the marital residence. Now what? Mortgage assumption incident to divorce can be complex and is never guaranteed. At Divorce Mortgage Help we have experience navigating the mortgage process. Services include the following:
- Review of your mortgage servicer’s submission package
- Assistance with correct and thorough completion of the Uniform Residential Loan Application (URLA)
- Review of Divorce Decree/Marital Settlement Agreement for proper language regarding Real Property Division
- Review of income documentation to determine amount of qualifying income
- Checklist of items needed for assumption submission based on information provided in the URLA
- Address any events and/or items that require a letter of explanation and assistance drafting the letter
- Cover letter for the assumption submission
- Coordinate the preparation of the Quit Claim Deed (QCD) and the recording of the QCD and the assumption agreement with a local real estate attorney
The base rate is $500. Additional fees apply depending on the scope of work which is determined by the loan type (conventional, government, etc.), employment/income type (W2 wage earner, self-employed, etc.) and overall complexity of financials. Any additional fees will be agreed upon after the initial consultation.
