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Jeff L. Weaver, CDLP, RSC-d
Senior Loan Officer
NMLS 403726

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    With over a decade of experience in the mortgage industry, Jeff can help you explore the options available to you, so you can make the most informed decision about what is best for you and your family. Financing Real Estate is serious business and no one understands that more than Jeff.

    Jeff and his team of real estate experts provide all the tools you need to achieve your real estate goals. Jeff is committed to providing superior service to his clients. That's why he takes the time to get to know his clients' needs, and then helps them achieve their goals. He has extensive experience in the real estate and mortgage market and offers suggestions and solutions that work. His team of experts can help you take care of any real estate needs you may have during and after the transaction. That's why many of Jeff's satisfied clients refer him to their friends and family.

    Jeff Weaver's mission is to provide his clients and customers with a world-class real estate experience. Refinancing, buying or selling a home is the largest business transaction most of us will ever make and it can be a very complex and time-consuming experience. However, with Jeff, he makes certain that his clients will come away completely satisfied and stress free.

    Jeff is dedicated to his clients and customers and his greatest compliment is when his clients and customers refer him to their friends, family members and co-workers. Jeff is a graduate of Millersville University and lives in Exton with his wife Melissa and son Jackson.

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Can You Transfer a Mortgage In Divorce?

10/31/2018

 
With 70% of all divorces in the United States involving real estate, one of the first questions to arise is “Can you transfer a mortgage in a divorce?” The answer is yes and no – depending upon what type of mortgage you have.
There are typically only 3 ways to transfer a mortgage in a divorce:
  1. Transfer an assumable mortgage by working with the current lender to approve a qualified individual to take over your current mortgage. Typically, the loan type must be an assumable loan type. Unfortunately, assumable loan types may be challenging to find. Most government loans, FHA and VA are assumable while assumable conventional loans are rare.
  2. Refinancing the current mortgage into the name of one spouse only is the most frequent way to transfer ownership in a divorce. An equity buyout is where one spouse refinances the home into their name while taking equity out of the home to payoff the vacating spouse which typically means more favorable interest rates than a standard cash out refinance.
  3. Transfer of ownership due to divorce judgement may cause alarm when you see the Due on Sale clause in the loan documents stating that the loan must be paid off when the property sells or ownership is transferred thereby accelerating the loan. However, divorce is an exception to this rule allowing ownership to be transferred to another spouse incident to divorce even if that spouse is not currently on the mortgage.
For more questions regarding the transfer of ownership of the marital home during divorce, contact a Certified Divorce Lending Professional in your area.
It is always important to work with an experienced mortgage professional who specializes in working with divorcing clients. A Certified Divorce Lending Professional (CDLP) can help answer questions and provide excellent advice.

This is for informational purposes only and not for the purpose of providing legal or tax advice. You should contact an attorney or tax professional to obtain legal and tax advice. Interest rates and fees are estimates provided for informational purposes only, and are subject to market changes. This is not a commitment to lend. Rates change daily – call for current quotations.

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