When Familiar Trails End, We Blaze New Ones
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Alternative Lending Case Spotlight Neighbourhood Holdings |
When Familiar Trails End, We Blaze New Ones
At Neighbourhood, we don't just navigate the maze—we rewrite the map. This week's spotlight showcases how we shine a light on a complex refinancing case with a solution as unique as our client's story. Discover how this borrower successfully navigated the financial ties of divorce with our solution.
Scenario
We encountered a borrower in need of refinancing for a spousal buyout, a process that hit a roadblock when the ex-spouse, owing $100k in income tax, had been incommunicado for over three years. The typical route would require a signed declaration from the spouse, which was impossible in this scenario.
Solutions
With a full understanding of this situation, we approved the refinance on the condition that the borrower secures a court order to remove the ex-spouse from the title. Our team's support during this unconventional process reflects our commitment to flexibility and tailored solutions to fit clients' needs.
Note:
The case study above is for educational purposes only, with the intended audience being licensed mortgage brokers.