Monday, April 11, 2011

Avoid refinancing after divorce

Avoiding Refinancing Costs After Divorce - Divorced homeowners wrangling with the task of removing a former spouse’s name from the mortgage after buying out his or her equity stake in the marital house may think that refinancing is the only choice. There is another, little-known option that can avoid refinancing and its costs, which generally run 3 to 6 percent of the outstanding loan principal. Not all lenders or mortgage servicers offer this option, known as release of liability. Read article:
http://www.nytimes.com/2011/04/10/realestate/10mortgages-refinancing-divorce.html?_r=1&ref=realestate

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