Marc Demetriou of Residential Home Funding Corp. (RHFC) was recently featured in an article written by Ashley Tate Cooper on The Huffington Post’s website. The article, titled “It’s Harder to Divorce the House Than the Spouse!” covered a vital topic – the marital residence and who retains ownership after the divorce.
As per Ashley’s experience as a Family Law Partner at Weinberg & Cooper, LLC, in many divorces the marital residence is the single biggest asset, and often the one that causes the most friction between litigants. She met with Marc Demetriou, CLU, ChFC, Branch Manager and Mortgage Consultant at RHFC in Bloomingdale, New Jersey, in order to gain insight on his expertise in the mortgage industry. He explained, “After a divorce, there could be challenges applying for a mortgage. Most importantly is the number of months that most banks will require alimony to be received before they will count it towards total income. Most banks require 6 months of receipt but at times it is possible to get a mortgage approved with only 3 months of receipt and on a case by case basis less than 3 months of receipt.”
The article continued to give valuable insight on the multiple factors that come into play when deciding on what to do with the home during the divorce process, and answers important questions dealing with appraisal value, income, and other vital topics that may come up during negotiations.
The Huffington Post’s website receives an impressive amount of online traffic, with about 170 million site visits so far.
You can find and connect with Marc on LinkedIn, Facebook business page (@TheMortgageExperts), Twitter (@marcdemetriou1), Instagram page (@marcdemetriou), You Tube channel and Google+ page (search Marc Demetriou to connect with him).
The article is live and can be read here:
About Marc Demetriou
Marc has become one of the most trusted mortgage bankers in New Jersey, especially among the accounting and legal community where he is called upon frequently as an expert panelist and speaker. He is licensed as a continuing education instructor by the NJ State Board of Accountancy, Certified Financial Planners Board, the National Academy of Certified Care Managers and the NJ State Board of Banking and Insurance, Real Estate Commission to offer credits to accountants, financial advisors, managed care workers and real estate professionals to fulfill annual licensing requirements. Marc successfully services his clients in traditional and reverse mortgages. Marc has been the top producer and a member of the President’s Club at Residential Home Funding Corp. from 2006-2016 and is a licensed mortgage banker/broker in NJ, NY, CT, PA and FL. He can be reached at (973) 492-0117 Ext 22 or email@example.com.