4. Buying or Refinancing a Home During Your Separation with Ashlyn Gift, Mortgage Loan Officer

During your initial separation, the question of what to do with your marital home can be filled with emotions, financial questions, and uncertainty. In this episode, we’re joined by Ashlyn Gift, a Loan Officer with American Security Mortgage., as she shares everything you need to know about removing your spouse’s name from the mortgage, how spousal support payments affect your loan qualification, and how to make the whole process easier before you even separate. Ashlyn Gift is a Mortgage Loan Officer with Team Lending by Design at American Security Mortgage. Team LBD offers unique, personalized lending experience focusing on each and every client, tailoring their financing needs to fit their home purchasing goals. 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! Connect with Ashlyn: Website Phone - 704-658-5297 Email - [email protected] Some key takeaways from this episode include: If you’re looking to refinance or purchase a new home during your separation, it’s crucial to have a separation agreement in place signed by all parties when working with your loan officer. Without it, your new home could be considered a marital asset during your divorce. Timely alimony and child support payments are a huge piece of qualifying for a loan. If payments from your former spouse are late or partial, it can have a big impact on the loans you qualify for. In order to remove your spouse’s name from the mortgage, you need to refinance your home. This is tricky at the time of this episode release because interest rates are very high and you might have a low interest rate currently.  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.