Advice from Mortgages Plus to get the necessary mortgage and buy a portion of a first person's home

After the spouses separate, one way to resolve the common good split is to give part of the home to the ex-partner. This can be done by ordering a Mortgage to finish condominium.

At Mortgages Plus, experts direct people to notify the bank that they have approved an initial mortgage on the property and to carry out the procedure for obtaining a new loan.

What happens when the spouses involved in the mortgage divorce?

Many mortgages are offered as a couple, so the property is given in the title of both, an aspect that becomes an issue when a couple goes through the process of separation or divorce.

In these cases, several scenarios may arise and Hipotecas more They provide enough guidance to know which alternatives you can choose to keep at home.

One of these options, which has been identified as the most frequent, is to buy the part that corresponds to the previous partner. This process is carried out under a joint agreement in which they generally require some payment for their part of the house.

A person interested in obtaining a part of his ex-wife asks for a mortgage with which the bank can give him the money that he agreed to pay, including a mortgage that may exist at this time under certain circumstances that may vary according to the financial terms. The entity that grants the feature.

You can have a mortgage repayment term ranging from 30 years to 40 years, at a fixed or variable interest rate, depending on the choice of the customer.

Mortgage expert helps manage legal and tax issues

In these cases, the work of a mortgage expert is necessary to provide his knowledge, strategy, and tools to negotiate the 50% that you wish to buy or sell to the other party.

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In addition, this type of action frames a series of legal and tax aspects that must be brought up so that neither party is harmed at the time of separation of those public interests.

Before requesting this decision before a notary, you must make sure that the mortgage is approved by the bank. In these cases, it usually happens that as soon as they come to an agreement that one of them should stay in the house, they go to a notary and one of them gives up his share to the other. Those who keep it have to look for a mortgage to pay, and sometimes find that they can’t find a bank that will give them the mortgage. Thus, the one who gives the house in the expectation that the other will pay it and take it out of the mortgage, finds that he no longer has the house in his name, but continues on the mortgage, which causes serious damage, because if you want to buy a house, they probably will not give it to you. This refusal from the bank is due to the fact that he already has another, which, in turn, is connected with how his ex-wife performed financially. If he does not pay and does not pay, the bank will demand payment even if the house no longer belongs to him.

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