10. Mortgages After Divorce | Removing Your Partner’s Name, Weird Alimony Rules & More with Pam Abirached, CDLP

Divorce can complicate a lot of things, and your mortgage is included - both for your marital home and any future home! In this episode, Pam Abirached, a Certified Divorce Lending Professional, joins Theresa to share the ways divorce, alimony, mortgage rates, and trust payments can affect your ability to qualify for a mortgage in this new chapter of life. Connect with Pam! Website Facebook From prenuptial agreements to divorce, Modern Legal is here to protect your family at all stages of life. Schedule a consultation with our team today! Some key takeaways from this episode include: North Carolina has a due diligence period and fee. This means when you put in an offer on the house, you are paying an earnest down payment and an additional due diligence fee that allows you to back out of the sale at any time, minus the due diligence fee.  During a divorce, if you are moving out of the marital home, you want to make sure your former spouse removes your name from the mortgage by refinancing or assuming the mortgage in just their name. If not, the marital home could affect your ability to buy another home. Payouts from trusts and quarterly or annual alimony payments can count towards your income depending on how the agreement or Order is drafted, but you have to provide proof of receiving those payments for specific lengths of time to qualify. The Legal Lounge podcast aims to dispel misinformation and downright bad legal information to empower anyone with questions about their family, their children, their finances, their marriage, and the law. As a team focused exclusively on family law matters, we aim to help you not only with the information you need, but also with the hope that your situation has a solution.  Modern Legal is a family law firm based in Charlotte, North Carolina. Our Modern Legal team can help you navigate the legal system when the law and your family collide. We help turn confusion into confidence, helplessness into empowerment, and frustration into action.  Connect with Modern Legal: Website Phone: 704-286-6302 Instagram LinkedIn YouTube Facebook  LEGAL DISCLAIMER: This podcast is for educational purposes only and the information should not be relied upon as legal advice or for legal purposes.