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SPOUSAL BUYOUT MORTGAGES FROM CANADA’S MORTGAGE COMPANY
Divorce is never easy, but it happens. Between lawyers, court, litigation, separation agreements, and the emotional impact of the situation, it can weigh on all parties involved. One source of contention when discussing how to divide the assets is what to do with the house. It’s often your biggest asset, and dealing with it effectively is important for all parties involved. To provide you with options, we offer spousal buyout mortgages.
Many individuals simply cannot afford to carry a mortgage on their own after a divorce. However, there is a solution – spousal buyout mortgages. These mortgages are designed to help you buy out your ex-spouse through refinancing your property. Or if your ex-spouse would like to buy you out, they can do so using our spousal buyout mortgage. Either way, this allows your home to be an asset and give both parties a fresh start after the divorce.
SPOUSAL BUYOUT MORTGAGES FOR ALL SITUATIONS REGARDLESS OF DEBT, INCOME, OR CREDIT
At Matrix Mortgage Global, our team of brokers and advisors are here to help anyone with their mortgage needs, including those who currently have a mortgage and are in the process of divorce.
If you own a matrimonial home, there are several key things to consider during a separation. Will you be keeping or selling the home? Who will be coming off the title? Who will be staying in the house? Can the equity in your property be used to consolidate marital debt? Answering these questions can help you determine if a spousal buyout mortgage is a right solution for you.
Why should you consider a spousal buyout mortgage product? A traditional mortgage will only allow you to take up to 80% of the equity out of your home. In cases of divorce, this is often not enough for a buyout or settlement between parties. The Matrix Mortgage Global Spousal Buyout Program will allow a spouse to be bought off the title in the event of a marital split, allowing you to take up to 95% of the equity out of the house.
The spousal buyout mortgage creates some flexibility and provides you with a number of options. Depending on your situation, you may choose to have matrimonial debts consolidated, agree upon a spousal payout, or even create a division of assets without selling the house. We can help you navigate whichever scenario best applies to your situation.