Divorce & Real Estate: Why Didn't My Lawyer Tell Me That? | Episode 230

Divorce and Real Estate: What Your Attorney May Not Tell YouIn this episode of Divorce at Altitude, Ryan Kalamaya is joined by Karla Kyte, a Certified Divorce Lending Professional, to discuss one of the most overlooked parts of divorce: real estate and mortgage planning. They break down the costly mistakes people make when they assume keeping or buying a home will be simple after divorce, and why involving a divorce mortgage expert during settlement negotiations can make a major difference.Karla explains how child support, spousal maintenance, temporary orders, refinancing, equity buyouts, and loan assumptions can all impact whether a divorcing spouse will actually qualify for a mortgage.Guest InformationKarla Kyte is a Denver-area lender with more than 27 years of experience and has been a Certified Divorce Lending Professional (CDLP) since 2017. In addition to her lending work, she now runs a fee-based divorce mortgage planning business focused on helping divorcing individuals and attorneys structure settlements that can actually be executed after decree.Episode HighlightsWhy Real Estate Is So Often Mishandled in Divorce Karla explains that many divorcing spouses ask, “Why didn’t my attorney tell me this?” The reason is not that attorneys are doing something wrong, but that mortgage planning is its own specialty.How Child Support and Maintenance Affect Mortgage Qualification One of the biggest issues is timing. To use support income for mortgage qualification, the receiving party must usually have both a court order and a documented payment history.Why the Length of Support Matters More Than People Realize Karla points out that if support ends too soon, it may not count at all for mortgage qualification. That means even a person receiving significant monthly support might not be able to use it if the support term is too short.The Importance of Temporary Orders Temporary support orders can start the clock for mortgage qualification. If support is being paid during the divorce and documented correctly, it can later help a spouse qualify once permanent orders are entered.Why Payments Must Be Set Up Properly Support payments must be traceable. Karla explains that support should be paid from one spouse’s individual account into the other spouse’s individual account. If parties simply move money around informally or through joint accounts.What is Divorce at Altitude? Ryan Kalamaya and Amy Goscha provide tips and recommendations on issues related to divorce, separation, and co-parenting in Colorado. Ryan and Amy are the founding partners of an innovative and ambitious law firm, Kalamaya | Goscha, that pushes the boundaries to discover new frontiers in family law, personal injuries, and criminal defense in Colorado. To subscribe to Divorce at Altitude, click here and select your favorite podcast player. To subscribe to Kalamaya | Goscha's YouTube channel where many of the episodes will be posted as videos, click here.  If you have additional questions or would like to speak to one of our attorneys, give us a call at 970-429-5784 or email us at [email protected].************************************************************************DISCLAIMER: THE COMMENTARY AND OPINIONS ON THIS PODCAST IS FOR ENTERTAINMENT AND INFORMATIONAL PURPOSES AND NOT FOR THE PURPOSE OF PROVIDING LEGAL ADVICE. CONTACT AN ATTORNEY IN YOUR STATE OR AREA TO OBTAIN LEGAL ADVICE ON ANY OF THESE ISSUES.