Family or Private Mortgages

Do you need to refinance your home as part of your divorce agreement? Finding it difficult to obtain financing? The partners at New England Divorce Solutions can help. Mixing money and love can be tricky. New England Divorce Solutions works with an outside firm to manage your private mortgage, so you don’t need to talk business with your lender unless you want to. Together, they help plan, change or restructure your loan – keeping it, and your relationship, on track. It makes those holiday dinners much more pleasant. A private mortgage is secured by real estate, so the lender will have a lien on your property. If your loan defaults, the lender can get their money back. We will work with our partnering firm to charge an interest rate greater than they may earn in a comparable financial investment. Most likely, it will be less than a rate you would have to pay a bank. If your lender wishes to do so, they have many creative options available to them. Is your maintenance and or child-support award behind from your spouse? The lender can forgive a payment here and there by making them gifts. You can also agree to move payments to the end of the schedule if you have a cash crunch. The consultants at New England Divorce Solutions can also work with you and your lender to create a payment schedule you can afford – which hopefully means less stress for you. Want to provide your lender with an added incentive to thank them for helping? The partners at New England Divorce Solutions can work with their attorney and record the mortgage, so they can take the federal tax deduction for mortgage interest paid (even if your lender is mom or dad!). Call us today to see how we can help.