Divorce

How HECMs Can Help Make Divorce Bearable

Many people are surprised to find that in this day of increasing “Grey Divorce” that a HECM can truly help in this tough circumstance.

Circumstances How HECMs Can Help?
Can’t afford to separate Usually the BIG problem…..using HECMs for both parties, along with splitting the existing home’s equity, can put both parties back in comparable residences
 One spouse wants to stay in home, but the other spouse needs their 50% share A HECM can finance the equity cash out for the leaving partner. The much lower income qualifications and optional monthly repayment feature of a HECM can reduce the cash flow burden of the divorce
Spouse remaining in home cannot qualify for new mortgage or the spouse paying alimony can’t qualify for new mortgage With adequate equity, a HECM has substantially lower monthly income requirements
Spouse remaining in home making mortgage payments is uncertain of future alimony payments Losing Alimony could lead to foreclosure. The optional payment on a HECM mitigates the risk of losing this income
Spouse remaining in home took their ex-spouse share of home in exchange for no future alimony, so has no current income A HECM can provide a steady and guaranteed either Term or Tenure (annuity) payment while spouse remains in home.

HECMs can really help. Go download the eBrochure and watch the Video.

Would you like to learn more?

  • Click here for eBrochures, eBooks, FAQs and Videos!
  • If you would like to know how much you potentially qualify for, and whether you possibly have adequate monthly cash flow, go to the HECM WIZARD and input your information.
  • If you would like to reach out and talk with me, fill out the information on Contact Me or email at st.john.bannon@JMCapGroup.com