Divorce Mortgage Specialist, Tampa, Florida
Ending a marriage is difficult, especially if you own real estate with your spouse. That’s why it’s critical that you work with an experienced mortgage broker and/or real estate professional who specializes in divorce. Next Act Properties can help you with everything from refinancing a mortgage to selling your home.
If you want to keep your primary residence, one option is to buy-out your spouse’s share of the equity in the home and refinance the mortgage into just your name. Next Act Properties will help you get the best loan terms based upon your specific financial situation and the terms of your Divorce Settlement Agreement.
Another option is to sell the property and split the proceeds with your former spouse. This is a good option if you are unable to buy-out your spouse and/or refinance or if you and your spouse would rather sell the home and get a fresh start elsewhere. We work with divorce real estate experts who know the Tampa market inside and out and can help you get the best price for your home.
Buying Out Your Spouse
If you have sufficient assets, cash on hand or can qualify for an equity buy-out or cash-out mortgage, you may be able to buy out your spouse’s share of the equity in the property. For example, if the property has $300,000 in equity (equity equals the value of the home minus the outstanding mortgages), you may be able to give your spouse $150,000 and keep the residence for yourself, assuming you can refinance the existing mortgage, if there is one.
Protect Your Interests
Next Act Properties was founded by Jeffrey Landers, a Certified Divorce Financial Analyst (CDFA) and Certified Divorce Lending Professional (CDLP), who understands the many intricacies involved in dividing real property in a divorce. Contact us at (800) 795-2445 to see how we can help you.