Divorce and Finance

Getting SplitReady Episode 28.4: Financial Safety and Keep Your Assets Safe During Divorce

Good or bad, money makes the world go ’round, ensuring you have a roof over your head and food in the pantry, both now and in the future. During a life event like divorce, the risk of having your carefully laid financial plans scattered and losing control of your assets increases. It is exceptionally important …

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Refinance Fee Delayed Until December: Here are Three Important Considerations

The time is now if you want or need to refinance your mortgage.  In a partial reversal of their announcement last week, Fannie Mae and Freddie Mac have delayed the implementation of the 0.5% fee for refinances until December.  This is great news which I for one expected as it takes any negative political impact …

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If You Snooze, You Lose – Refinances Just Got More Expensive

The Federal Housing Finance Agency surprised the mortgage market yesterday with an announcement of a 0.5% adverse market fee on all refinances.  Citing market conditions and increased risk from COVID-19, Fannie Mae and Freddie Mac, the entities governed by the FHFA, will be adding the 0.5% fee to all refinance loans after September 1st.  Based …

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frustration over jumbo loans

Banks Tighten Their Belts on Loan Approvals. What Does This Mean For Jumbo Loans?

Wells Fargo just announced an increase in the required banking and/or investment relationship for jumbo loans from $250,000 to $1,000,000.  Additionally, they increased the restrictiveness of some of the loan approval guidelines.  Back in April, Chase made similar moves to their lending rules and requirements.  This trend is not limited to the big banks and …

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home prices dropping

Home Prices Are Dropping. What Should You Do?

May’s Home Price Index and Home Price Forecast is not great, but could be worse. CoreLogic is a company that provides information to help clients make smart and educated decisions. In a CoreLogic report, home prices are expected to decrease by 6.6% by May of 2021.  In their press release, CoreLogic said, “The anticipated impacts …

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Fannie Mae and Freddie Mac Loan

Fannie Mae and Freddie Mac Opens New Opportunities for Homeowners

There is good news on the lending front.  The Federal Housing Finance Agency (FHFA), the government agency that oversees Fannie Mae and Freddie Mac, has announced that the “waiting period” for a Fannie Mae and Freddie Mac post-forbearance loan is dropping from 12 months to 3 months.  This is huge for anyone who entered into …

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Getting SplitReady Episode 25.2: When Less Isn’t More – Planning Your Divorce When The Market Is Down 

The financial markets are always changing. But when the markets are down, it can throw a wrench into your plans, especially during a divorce. What about when you need the assets to plan for the future or even to pay for the divorce? Join us for an engaging discussion with Certified Financial Advisor and Getting …

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loan forbearance

Forbearance on Mortgage in COVID-19 Can Impact Future Loans

Here is another quick update from the COVID-19 mortgage front.  As of today, I can verify that many institutions have to take forbearance on their mortgage into account for current and future applications. Forbearance is an agreement between a lender and a borrower to temporarily suspend debt payments. Without getting into too much detail, if …

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loan forbearance

What’s Next: Loan Forbearance Options Become Clearer

What next?  This question is what a lot of people impacted by COVID-19 are asking themselves, especially when it comes to their mortgage loans.   Although still not completely clear, we are getting more and more information every day.    Based on the information released this week, there is some good news and bad. Update from Fannie …

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phishing scam

Beware of Phishing Scams in Times of Crisis

a We are currently in the midst of an unprecedented crisis with COVID-19, but any crisis opens you up to technology vulnerabilities.  With the ability to track your online activity, hackers can target you when you are least able to protect yourself.  One common technique to exploit your online vulnerability is a phishing scam. A …

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