YOUR PROFESSIONAL
DIVORCE TEAM
The importance of building a professional divorce team.
• Divorce Law
• IRS Tax Law
• Lending Guidelines
• Client Benefit
Copyright 2014 Bruns Group LLC All rights reserved.
Consumer –Certified Real Estate Consultant
Certified Divorce Real Estate Professional
Certified Depressed Property Specialist
Accredited Buyer Representative
Accredited Staging Profession
Certified Residential Specialist
PHILLIP H. LANDE
Copyright 2014 Bruns Group LLC All rights reserved.
Importance of a professional
divorce team
➢ Client Outcome
➢ Ability to meet terms of DSA
YOUR PROFESSIONAL DIVORCE TEAM
Copyright 2014 Bruns Group LLC All rights reserved.
Divorce with Real Estate
➢ Real Property Law
➢ IRS Tax Code
➢ Mortgage Finance Requirements
COMPONENTS OF DIVORCE TEAM
Copyright 2014 Bruns Group LLC All rights reserved.
Sell house and divide profits
One buys out the other
Both stay on deed and sell later
3 WAYS TO DIVIDE HOUSE
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Knowing the facts during settlement
Timing of Filing Divorce
DIVORCE AND MORTGAGE
CONNECTION
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Divorce and Negative Equity
Financing Options Available
Qualifying Income
Maintenance/Support
Different types of income
Pre-Divorce Involvement
THE MORTGAGE PIECE
Copyright 2014 Bruns Group LLC All rights reserved.
Mary is keeping house valued at $500,000 with a required
$100,000 equity buy out of Frank.
Support of $4,000 is needed for qualifying
$3,000 spousal support
$1,000 child support
Spousal Support is for 10 years total with 6 months receipt.
Child support
Billy is currently 16 years old
Anna is currently 10 years old
SPOUSAL SUPPORT FOR MORTGAGE
FINANCING
Copyright 2014 Bruns Group LLC All rights reserved.
Requires 6 months of receipt history
Will need to wait 5 months prior to approval for
proof of receipt
Remaining life of support is now less than the
required 3 years for the 6/36 rule
Result:
Inability to fulfill the equity buyout per the divorce settlement
agreement.
SPOUSAL SUPPORT FOR MORTGAGE
FINANCING
Copyright 2014 Bruns Group LLC All rights reserved.
Team Work….
…. In the best interest of the
client.
Copyright 2014 Bruns Group LLC All rights reserved.
Certified Divorce Real Estate Professional
Direct 317-863-2356
[email protected]
www.remax-atlasgroup.com
www.facebook.com/4SaleByDivorce
PHILLIP H. LANDE
Copyright 2014 Bruns Group LLC All rights reserved.