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Getting a Mortgage After a Divorce

Posted by samanthas on August 21, 2013 in Home Living Tips with No Comments


divorce mortgage broker AlbertaAnyone who is in the middle of a divorce or separation, or knows friends or family members who have experienced this unfortunate situation knows how emotionally taxing this period of life can be. Obviously, parties enter into a marriage with the full intent of making it last forever; however, there are times when this simply is impossible. Not only is the process very difficult for the spouses that have decided to part, it can be especially challenging for children who finds themselves unwillingly in the middle of such a situation.

Getting the Mortgage You Need After a Divorce

There are usually many things that need to be settled on and divided after a marriage dissolves. This can include anything from the family home, investments and business assets. Generally speaking, the home that was once shared usually has to be sold and the proceeds divided among both parties. If not, one spouse usually needs a new mortgage to own the home on their own.

Moving into a home on your own and being solely responsible for its mortgage payments can seem overwhelming. This is why it’s crucial that you team up with a divorce mortgage broker Alberta that can help you move forward.  The process can be somewhat complicated and is best handled by a mortgage professional with experience and access to the right lenders.

Making proper preparations during the separation process to get yourself a mortgage is a wise decision that can help you manage the entire situation of being approved for the necessary mortgage you will need to finance your new place. There are a number of roadblocks that you may not think of when it comes to this, which is why having the right expert team in place is essential. For example, in the eyes of the court, spouses of a marriage that has fallen apart are still seen as married unless proper legal documentation has been drafted up stating that you are either separated or divorced. Such a situation can have major impact on getting the mortgage you need for your own place.

If you are getting divorced and are seeking to divide your family home in hopes of getting your rightful proceeds to finance your own place, call on a professional mortgage broker like Jim Black and his team at Mortgage Loans Alberta to help you prepare your finances and begin your journey to sole home ownership. This team has helped a number of people just like you maintain financial independence after a divorce, and get the mortgage needed to buy their own place. Give Jim and his team a call today at Tel: (877) 394-9422.  They are the hard to place mortgage experts in Lethbridge, Calgary, Medicine Hat, Red Deer and other areas of Southern Alberta.

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