Real Estate Divorce Consulting

7 things you should know about homeowners insurance

Divorce & Elder Real Estate tip: Make sure your client has a copy of their title insurance. It might be the ONLY copy out there. Any title question will put the closing on hold. In 20% of closings sellers are being asked to present Title Insurance to remove title cloud/s. Only in 50% of the cases they know where their copy is. ~~~~~~~~~~~~~~~~... Divorce Real Estate Expert [email protected] See more

Divorce and Elder Real Estate Tip: According to FICO, if your credit score is 680, a foreclosure will drop your credit score on average by 85 to 105 points. If your credit score is excellent at 780, a foreclosure will drop your score by 140 to 160 points. ... Foreclosure, short sale or deed-in-lieu: 85 to 160. Once a home is lost to foreclosure, the homeowner’s credit score will drop by as much as 250-280 points. Only three years or more of on-time payments will restore the... credit score. In case the foreclosure is an isolated event and the credit record is otherwise sound, consumers may be able to rehabilitate their records in 24 months. But this is a rarity as foreclosure normally comes hand in hand with escalating rates that only push the individual deeper and deeper into debt. It can be avoided. ~~~~~~~~~~~~~~~~~~~~~~~~~~~ Jonathan Livnat Divorce Real Estate Expert [email protected]

Divorce & Elder Real Estate tip: Documents to have when the divorce involves the marital property: 1. Closing statement / HUD /Closing Disclosure 2. Copy of the Deed / title exam... 3. Mortgage pay off amount (not to be confused with mortgage balance) 4. Names on the mortgage 5. Appraisal (not to be confused with home inspection) 6. True, current and realistic listing price (not to be confused with appraisal or tax assessment) 7. Home inspection 8. Lien search #1 (recorded) 9. Lien search #2, for liens that don’t show up in search #1 10. Homeowners insurance’s name insured 11. CLUE report 12. Confirming Flood zone 13. Name insured on the Title insurance 14. Refi ability and Credit Score evidence. ~~~~~~~~~~~~~~~~ Divorce Real Estate Expert Jonathan Livnat [email protected] 404-529-6426 See more