Discover how Phil LaGiglia of Oak Leaf Community Mortgage offers essential advice and innovative solutions for divorcing homeowners on Karen Covy’s podcast. Learn about the “Buy Now, Sell Later” loan program that helps divorcing couples secure stable housing.
Divorce is never easy, and it can be especially challenging when it comes to financial decisions and securing stable housing. Recently, our very own Phil LaGiglia, Senior Vice President at Oak Leaf Community Mortgage powered by North Shore Trust and Savings, was featured on a podcast hosted by Karen Covy. Karen, a former divorce lawyer and mediator turned expert divorce coach, consultant, and life strategist, provides valuable guidance to professionals and business owners navigating the complexities of divorce.
In this insightful podcast episode, Phil shared his personal experience with a difficult divorce and his passion for helping divorcing homeowners, particularly those with children, achieve financial stability. As a seasoned mortgage professional, Phil understands the critical importance of involving mortgage experts early in the divorce process.
The Current Housing Market Challenges
Phil highlighted the unique challenges of today’s housing market, where rising interest rates and low inventory make buying a new home significantly more difficult than it was a few years ago. Homes are being snapped up even before they officially hit the market, and bidding wars have become the norm. These conditions can complicate the process for divorcing couples who need to find new housing post-divorce, especially when they aim to stay within certain school districts for their children or buy a home close to their current residence.
Common Pitfalls in Divorce Agreements
Phil pointed out that too often, divorcing couples make housing agreements without fully understanding the financial implications. They may agree on terms that aren’t financially feasible or find themselves needing the proceeds from the sale of their marital home to fund a new purchase. This lack of foresight can lead to significant financial stress and delays in securing suitable housing.
Innovative Solutions: The “Buy Now, Sell Later” Loan Program
To address these challenges, Oak Leaf Community Mortgage has pioneered an innovative “Buy Now, Sell Later” loan program. This program allows divorcing homeowners to purchase a new property without first having to sell their current home, thus removing a major financial stumbling block. By providing this flexibility, the program helps ensure that both parties can secure stable housing without the pressure of rushing the sale of their marital home.
A Wealth of Information for Divorcing Couples
Phil’s podcast with Karen Covy is a treasure trove of valuable information for divorcing couples, especially those who are parents and wish to remain homeowners. The discussion emphasizes the importance of strategic financial planning and the benefits of involving mortgage professionals early in the divorce process.
Phil’s insights and the innovative solutions offered by Oak Leaf Community Mortgage are helping many navigate the challenging landscape of divorce with greater confidence and financial security.
If you’re facing divorce and concerned about your housing situation, be sure to listen to Phil LaGiglia’s episode on Karen Covy’s podcast. It could provide the guidance and reassurance you need to make informed decisions and secure a stable future for yourself and your family.
For more information please don’t hesitate to reach out, we’re here to support you every step of the way.
