Here is how Brampton Mortgage Broker – Rumy Gill, helped Kim, resident of Brampton had contacted me for a Spousal Buyout Second Mortgage.
Kim was in the process of filling for a divorce from her husband and she was trying to a way to give him his share of the equity in the property. Kim had tried to go to her bank and get the financing arranged but she was unable to qualify for the full mortgage amount on her own income.
The current mortgage was in Kim’s name only, although her ex-husband did contribute with the down payment, Kim was the one making the payments.
Kim’s main concern was since the home was a matrimonial home; she wanted to make sure he got his share of equity so it would not carry over into a nasty divorce process. Kim wanted the divorce to be as clean as possible. Through the lawyers there was a mutual understanding and agreement as long as Kim was able to get her ex-husband the money agreed upon he would move on.
While sitting down with Kim to discuss her Spousal Buyout Second Mortgage options, I asked Kim what her plans moving forward with the property, was she going to be selling or keeping the property? She had told me she was open to both options, but her main concern was getting her ex-husband bought out so she can make a clear decision and she needed the Spousal Buyout to happen right away.
Taking a more detailed look at some options, I was able to get her Spousal Buyout Second Mortgage in place for $400k and she was able to move on from the divorce, as clean as possible giving both of them a fresh new start in the next chapters in each of their lives.
After the Divorce was finalized, I spoke with Kim to see how her reaction was to the Spousal Buyout Second Mortgage I was able to arrange for her. She told me, “I was happy that you were able to get me the money I need in such a short period of time. It really took a lot of stress off my shoulders and has allowed me to move forward with a clear peace of mind. I didn’t think I would have been to keep my home and I would have had to sell, if you were not able to find me a Second Mortgage as quick as you did.”
Contact Brampton Mortgage Broker – Rumy Gill, Today to get the Best Mortgage Options for your Spousal Buyout Second Mortgage Situation.