Grace Pontes

Going through a divorce or separation? So What do you do about your real estate? One option may be to buy out the other party. In situations where you and your partner are on title to a property and are in the process of a legal separation, it may be preferable for you to keep your home and avoid moving to help maintain some stability in an otherwise turbulent time.... Under the mortgage purchase rules, the Spousal Buyout Program allows you to finance up to 95% of your home's value while enabling you to pay your ex-spouse or partner their portion of the home's equity. To qualify for this program, you must have good credit and you must be able to afford the mortgage on your income alone. To be considered for eligibility the following documents and criteria apply: Applications may be submitted as a purchase loan up to 95% LTV Both parties must be on title to the property prior to the legal separation Finalized separation agreement Offer to purchase Since this purchase transaction is a private deal and non-arm’s length, a full appraisal is required to validate the value of the property. If you are going through a separation and would like some information, a mortgage broker can help to provide detailed information on how to handle the real estate.

When purchasing a home, there are other costs to consider beyond the down payment. These closing costs can add another 4%-15% to the amount of money required to close your purchase. Here's an article explaining the costs that need to be taken into consideration when making your next purchase.

Is your nest egg protected? As a mortgage broker, to be helping a family buy a home or an investor add another property to their portfolio isn't just about a property. It is about building wealth, changing lives, and estate planning. Have you considered what would happen to your family, finances, and home if you died or worse became incapacitated and could not work through, accident or illness?... After 30 years, I have seen clients, friends, and family suffer unforeseen circumstances, but with insurance protection in place, they and their loved ones were able to weather the storm. Sadly, I have also seen, family members, friends, and clients lose their home and their security because they did not have the protection in place to assist them when they needed it most. As a broker, it is mandatory that I discuss life, disability, and critical illness insurance with my clients. However, I also think it's the right thing to do and I know I sleep better at night knowing I have addressed this critical estate planning issue with my clients. Life can change in an instant. Do you have the right coverage for you and your family? Check out Galori’s story https://lnkd.in/ezCaHEq #insurance #mortgage #financeandeconomy #mortgageadvisor

Here is my November newsletter. It provides an update on the real estate and explains why winter enthusiasts are rejoicing! As a former prairie girl, I am always happy to see a good dumping of snow.

I want to be on your team!

Curious how mortgage deferrals are impacting the banks? The big six have provided an update on getting borrowers back to making regular payments. #mortgages #mortgageprofessional