Should I Keep My House Post-Divorce with Jeff Landers | Episode 142

People’s homes are usually their most significant financial assets, but what happens to the marital home post-divorce? Today, we are joined by CDFA, CDLP, licensed mortgage and real estate broker, and author of Divorce House Sense Jeff Landers to discuss the three options and their nuances. Jeff breaks down the complications of co-owning a house after a divorce and walks us through all that needs to be considered by those who wish to keep their home. 

We learn the requirements to qualify for a mortgage loan, the criteria for equity buyout, and the types of income that qualify for refinancing a mortgage. Jeff simplifies the concepts of debt-to-income ratio, pre-approval, revocable trusts, reverse mortgages, and more. In this episode, you’ll discover creative solutions for creating an income stream to qualify for a mortgage loan, and staying in the home after divorce, if you so choose!

Key Points From This Episode:

• Jeff Landers’ background as a divorce financial advisor.
• Three post-divorce options regarding the marital home.
• The issues of co-owning a house after divorce.
• Jeff’s typical advice for clients who wish to keep their home post-divorce.
• Requirements to qualify for a mortgage loan.
• The criteria for equity buyout.
• Qualified income for refinancing a mortgage.
• The debt-to-income ratio explained.
• What pre-approval is, why it’s important, and how it differs from a pre-qualification letter.
• How bonus income for W2 employees is viewed by mortgage lenders.
• Separate versus marital property.
• Creative solutions for creating an income stream to qualify for a mortgage loan.
• What a revocable trust is and how to set it up.
• Reverse mortgages for senior divorces.
• The services Jeff’s company, Next Act Properties, offers. 
• Creative options to stay in the home after a divorce.

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 questions or would like to speak to one of our attorneys, give us a call at 970-429-5784 or email us at info@kalamaya.law.

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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.