Elements in an Owelty Lien Last week, we began discussing the elements in a divorce settlement that create an Owelty – a financeable Owelty lien. I took a short "rabbit trail" to point out certain factors that would derail the proper creation of an Owelty and thus make a buyout that would be severely […]

  Elements in an Owelty Lien I am going to show the basic elements that create an Owelty interest and, thus, a financeable lien on a homestead property. But first things first.   Always remember the foundational axiom - it costs you nothing for me (and my title gurus) to review your decree (or Special […]

Perhaps no other topic that I address triggers the interest amongst family law attorneys as does the famous Owelty lien. I think I know why. It’s a bit of a mystery. But, why is it a mystery? Lawyers are known for their ability to understand complicated and complex issues and to, not only make sense […]

This Is Why It Is Important For Me To Preview Drafts of the Divorce Decree Last week, I discussed why every word in a borrower’s decree is read, reviewed and underwritten. The assignment of debtwas the key illustration and element in the first reason why I PRE-underwrite (review prior to finalization of divorce) drafts of […]

Why I Preview Drafts of the Divorce Decree Part I   In my Assessment/Approval – my report to you about a client’s qualifications and conditions for mortgage financing – I always include the following paragraph in red URGENT and CRITICAL Please copy us on drafts of the decree before they are executed by the parties. We […]

One of the greatest values you can give your divorcing clients is a set of tools to implement their settlement and agreements. Think of it this way – if your client (or opposing) is ordered to refinance the recently-awarded marital residence and include a buyout to their former spouse, how beneficial would it be if […]

Why Wait? We all deal with hesitant customers and clients, folks who are just not sure that they want to "pull the trigger" on a divorce, a filing, a transaction, et al. When it comes to qualifying for a mortgage, there is never an upside to waiting. Several months ago, a client called to find […]

I’ve seen it all….usually in reverse. And it’s pretty much guess work – nearly all of it. Here’s why. When two lawyers, two clients and a mediator (or, in court, a judge) are presented with the conundrum of a spouse who is being awarded the house but which has a mortgage which is in the […]

ADDING VALUE TO YOUR CLIENTS’ DECREE HOW TO DESIGNATE DEBT AND CITE IT EFFECIENTLY IN A DECREE   Typical problem in mortgage financing for divorced borrowers: Divorce decrees assign debts and generally designates those debts by citing the creditors and account numbers’ last 4 digits. A debt assignment might look like   a.    Debt to […]

How and When To Order an Appraisal In Divorce A few years ago, two divorcing parties had obtained an appraisal (directly from a reputable appraiser) on their house which reported a value of $545,000. Based on the perceived equity, the buyout was agreed and the grantee (husband in this case who needed to refinance and […]