Ep. 151: Divorce & Your Mortgage: Smart Refinancing Strategies with Amy Bell
Divorce brings tough financial decisions, and one of the biggest is what to do with your home. Should you keep it, sell it, or refinance? And how do you sort through mortgage options while balancing credit, support payments, and financial stability?
In this episode, I sit down with Amy Bell, Certified Divorce Lending Professional and Mortgage Planning Specialist, to break down what you need to know about housing transitions during divorce. Listen in to learn how child support and alimony can affect mortgage approval, how to avoid common mistakes when it comes to credit, and more.
What You’ll Learn:
- What is a rate-term refinance, and why does it matter?
- How child support and alimony impact mortgage approval.
- Common credit pitfalls and how to avoid them.
- The risks of keeping the marital home.
- The real cost of mortgage insurance—and why 20% down matters.
Ideas Worth Sharing:
“ When you're looking at refinancing a home and you're buying out equity or you're buying out your spouse using the home equity, there are special provisions that would consider this a special purpose refinance.” - Amy Bell Share on X “Child support can only be used when it's three months before, or three years before the child is going to age out.” - Amy Bell Share on X “If you start taking steps down the path too soon … without understanding the financial ramifications of those steps, then you're putting yourself in a weaker and weaker position.” - Steve Schleupner Share on X—
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