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Home purchase while divorce not finalized

Hello,

I am in the process of buying a home while my divorce is being finalized. The divorce will be finalized by May 24th and closing is expected to happen May 4th. I have all the documents that were filed in court that show that we have reached an agreement and no assets or debts need to be divided or intermingled. We have filed for an uncontested divorce and have asked to get one without having to appear in court. I checked the status of the case on line and it seems to be going smoothly. 

I do not however have a legal separation. Will the lender be able to work with all the official documents taht I have or is this contract going to fall through because of the 90 day waiting period that Colorado has before I can get a divorce?

THanks

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April 07 2012 - Denver
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Answers (4)

I have no idea what an attorney could tell you that would be helpful.
This is an individual underwriter question. The regulations require you to provide documentation of the the divorce, but since you are still married there is none. When I was originating loans, I successfully presented and won that argument as many times as I lost it. Discuss this issue with your loan officer now if, you have not all ready. Colorado is an Equitiable distribution state, so no worry there.
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April 08 2012
Definitely call a lawyer on this one. It'll be well worth the consult fee for the shenanigans it could prevent.
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April 07 2012
Profile picture for wetdawgs
You need to review this with your divorce lawyr.   As Colorado is a community property state, I would be very very wary of making any financial commitments before the divorce is finalized.  I've seen too many ugly happenings in Colorado in the few days before the final documents are signed.
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April 07 2012
That is a legal question, and a lender question, one for an attorney and your loan officer and not a local real estate broker.
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April 07 2012
 
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