Case Study #9
Joseph and Lianna decided to end their marriage. They decided that Lianna, a Registered Nurse, would get the matrimonial home and Joseph, who owns his own business, would be paid out by the couple splitting the equity of their home minus any joint debts. GLM Mortgage advised them that Joseph and Lianna could increase the mortgage to 95% so they could do this. It was crucial for GLM Mortgage to connect with the divorce lawyers to ensure the separation agreement was written up properly in regard to the division of the home’s equity and what it is to be used for. Joseph and Lianna didn’t know how they would be able to get a mortgage based on 95% loan to value. They didn’t know what to do financially with their difficult situation. But GLM Mortgage did!
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Another good read: Geoff Lee from GLM Mortgage Group as featured in LoanNow.com.