There are unfortunate situations, such as a divorce, where a local mortgage company like Indigo Mortgage can be a true advocate. A local New Mexico lender like us will be much more attentive to your needs as a borrower when compared to any other national or out-of-state lender. There are many pieces to a puzzle during a divorce if one party chooses to keep the home. This includes having the person who’s keeping the home refinance it to get the other person off the mortgage and deed.
Also, if there is equity in the home, when this happens, the one retaining the home must pay the other a percentage of said equity. There are also a few things to work out, like how much equity is available, how to split the closing costs, and a final loan amount. Working with New Mexican lawyers for each divorcing spouse will help determine what’s equitable.
Our company can help with the refinance of a home during divorce and get the refi done promptly and ethically. Over the last 20 years, Indigo Mortgage has been able to help many borrowers in our state through the unfortunate situation of divorce as well as for other reasons.
Whatever the reason for a new mortgage loan or refi, give us a call today!