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Answers (3)
- Kerry Cybulski, "kerryrealestate"
- Contributions:143
Go into your bank and ask to talk to the Lender of that branch, Tell them your situation plus give them your list of debts and incomedocumentation. They will be able to tell you if you qualify and for how much, If you do not qualify they should be able to tell you what you can do to qualify. This is usually a free service so stop by there today!! I hope this helps and good luck.
- Jim Basquette CRS, CNE, "Jim Basquette"
- Contributions:1231
Will your ex consider refinancing? He would need to qualify, but would likely reduce his payments so there is a benefit for him. You wuld be off the deed, to be off the mortgage, but since you are splitting the profits, you would need to contact your attorney to be sure you can preserve your rights. There is a way this can be done.
- Steve Neuenschwander, "SteveNeuen"
- Contributions:281
The biggest problem for you to overcome is that the loan to income value is going to be really high as you still have the loan on your joint property showing on your credit score. If you want to move on, then you need to seek legal advice first to remove yourself from that joint property but still get the benefit of the proceeds upon sell. As you have it, should your ex default you will be responsible for the loan payments, taxes, etc. In my view that in itself is a high risk and it complicates your future ability to proceed separately for your own goals and happiness. Have you considered doing a land contract with your ex or simply cashing out your half of the current value of the home?
Do i still qualify for a new mortgage after i was divorce two yrs ago?
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