VA Loans for Vets NMLS#184169 5050 North 40th Street, Ste 260 Phoenix, AZ 85018 602-908-5849 Jimmy Vercellino is one of the nation’s top VA Home Loan mortgage originators. A Marine veteran, he and his team work hard to help veterans take advantage of their VA loan benefit and become homeowners. From start to finish, they guide their clients through the process and make it as smooth and stress-free as possible. Visit the site at https://www.valoansforvets.com

1. V A L O A N S F O R V E T S

2. A divorce is a stressful event, and
having to deal with shared home
ownership can make things even
more difficult.

3. The largest asset most couples have
is the home. When going through a
divorce, homeowners will face a
variety of issues.

4. From a financial standpoint, the
problem is pressing and may well be
an emotional one.

5. When preparing for a divorce, know
your options and consider which is
best for you and your spouse.

6. S e l l i n g

7. This option offers a fair
solution for both parties.

8. If neither wants to stay in
the house or can pay it on
their own, selling is the best
action to take.

9. You may decide to get a
help from a real estate
agent to establish a good
sale price.

10. They can help in prepping
and staging your property,
listing it in the MLS and
marketing it.

11. They will also assist you
during negotiations.

12. However, before listing the
house, there are important
factors that need to be
decided upon.

13. Before dividing up the proceeds
from the sale, the mortgage,
broker fees and closing costs
must be fully paid.

14. The amount or percentage
each individual will receive
must be determined.

15. One thing to consider is the
length of time it takes for
the house will be sold.

16. Who will cover the mortgage
payment during that period?

17. Upkeep and repairs also need
to be taken into consideration.
Sometimes houses sell quickly,
but not always.

18. H o m e

19. Refinancing the mortgage by the party
who qualified for the VA loan may be an
option.

20. If they are the one staying in the house, they
can pay the other party his or her equity share
by refinancing for a larger amount to get the
funds needed.

21. This should be done after the divorce is
recorded.

22. H o u s e

23. VA loan rules require that borrower will use the
property as their primary residence.

24. An Interest Rate Reduction Refinancing Loan (IRRRL) doesn’t
have the same occupancy requirements.

25. With an IRRL loan you are allowed to rent out the house.

26. You will need to check with your mortgage lender to find out if
this is possible in your situation.

27. N e x t

28. If you want to stay in the house,
it is crucial to check and
safeguard your credit while the
divorce is in the process.

29. Both parties can be negatively
affected by poor payment history
and this could affect the
refinancing of the home.

30. Double check the debts that are
listed as yours.

31. Your name will not be automatically
be removed from accounts even if the
divorce decree states you are no
longer responsible for payment.

32. V A L O A N S F O R V E T S
Mortgage Originator Jimmy
Vercellino, specializing in
VA loans, helps veterans
use theirVA loan benefit to
their greatest advantage.