The Professional Divorce Team

Collaboration | Working together to achieve a goal. A recursive process where two or more people or organizations work together to realize shared goals.

It takes teamwork to bring the typical divorce settlement together. There are usually quite a few people involved from divorcing clients, attorneys, financial planners, mediators, real estate agents, appraisers, and mortgage professionals.

One of the most important team members in the collaborative divorce process is the financial neutral. The financial neutral is an impartial expert in his or her field. When a primary asset of the marital property is the marital home and other real estate assets, having a Certified Divorce Lending Professional (CDLP) as a financial neutral on your team becomes increasingly desirable. 

In many divorce settings, negotiations break down over financial issues or concerns, oftentimes leading to litigation. The CDLP is a financial neutral who offers both parties a balanced, thorough financial evaluation of the current mortgage and future mortgage financing requirements and offers realistic solutions to obstacles in negotiations. 

Depending on each individual situation, the CDLP can perform a variety of functions in a collaborative divorce, such as:

• Assisting with the collaborative process by offering solutions and needs for both spouses to obtain immediate and future mortgage financing. 
• Providing guidance on the affordability and financing needs to support an Equity Buy-Out and refinance of the marital home.
• Offering an analysis of the ability for one spouse to meet mortgage financing guidelines using support income such as maintenance and/or child support as qualifying income.
• Analyzing debt pay-off situations to meet mortgage financing requirements and offering solutions for pay-offs.
• Identifying and gathering necessary financial documentation to assist with mortgage financing needs.

In all scenarios, the CDLP financial neutral is focused on assisting clients and lawyers in generating feasible mortgage financing options and understanding the future financial impact of those options. Financial neutrals should not only be savvy when it comes to various mortgage financing issues but also be keen problem solvers and be able to offer realistic solutions to guide decision-making. 

Do you have questions about how divorce can impact the ability to obtain mortgage financing? A Certified Divorce Lending Professional's (CDLP) knowledge and experience can help make the transition much smoother and successful for all parties involved.

Working with an experienced mortgage professional who is well versed in the many ways the divorce affects the mortgage is a huge benefit to both the divorce team as well as the divorcing homeowners. You can't think traditionally when working with divorce and mortgage financing.

Always work with a Certified Divorce Lending Professional (CDLP) when going through a divorce and real estate or mortgage financing is present.

This is for informational purposes only and not to provide legal or tax advice. You should contact an attorney or tax professional to obtain legal and tax advice. Interest rates and fees are estimates provided for informational purposes only and are subject to market changes. This is not a commitment to lend. Rates change daily – call for current quotations.

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