Going through a Divorce or Separating is stressful enough. Having to deal with selling a house certainly compounds that stress. Thankfully, we have a special Spousal Buyout Program that might work for you and remove the stress of having to sell your home!
Under the regular mortgage Refinance rules, you are only allowed to refinance up to 80% of the property's value. This leaves 20% of your equity tied up in the home. Normally, the only way to access that equity is to sell the property so you can split the equity with your ex-spouse or partner. Selling a house and moving is time consuming, stressful, and expensive. It also further disrupts your family and may involve your children having to change schools and lose their friends.
Our Spousal Buyout Program is different because it allows you to finance up to 95% of your home's value. Therefore, you may be able to keep your home and avoid moving while enabling you to pay your ex-spouse or partner their portion of the home's equity, and you help maintain some stability in an otherwise turbulent time.