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Answers (6)
- Andrew Adams, "203K Specialist"
- Contributions:9349
You got your badge back....Hopefully that means you will disappear for a few months!
- Chad Melin, "Chad Melin"
- Contributions:113
FHA purchase is the way to go.
- Brad Walbrun, "bradwalbrun"
- Contributions:19
Divorce decree and cancelled checks will do the trick. Even though she is resonsible, it would be a good idea for her to refinance the mortgage just into her name, just to CYA.
Glad to help. Don't hesitate to hit me up with any other quesitons.
Brad The Mortgage Guy
[content removed for being self promotional]
Glad to help. Don't hesitate to hit me up with any other quesitons.
Brad The Mortgage Guy
[content removed for being self promotional]
- Kevin Toups, "TabascoKajun"
- Contributions:110
Get an FHA - this is a scenario that is easily fixed with a divorce decree, letter of explaination and the canceled checks mention by Tawny.
Did the court docs specify a max time alotted for her to refi within?
Did the court docs specify a max time alotted for her to refi within?
- Tawny Lynn, "tawnylynn"
- Contributions:211
If you can provide your new lender with copies of all your ex-wife's canceled checks used to make her mortgage payments along with the court order showing she is responsible for paying the mortgage on the home, then you have a good chance of purchasing a home without the lender counting her mortgage in your debt ratio. Find an experienced mortgage broker to help you.
- wetdawgs
- Contributions:26853
I suspect mortgage lenders will qualify you on the basis of your ability to pay all your obligations, not just a new home. As you are still on the mortgage from the other house of ex-wife, that will have to be considered as part of your obligations.
Therefore, if you have sufficient income to cover both, then move ahead. If not, seek approaches for getting off the current mortgage or wait for the two years.
Therefore, if you have sufficient income to cover both, then move ahead. If not, seek approaches for getting off the current mortgage or wait for the two years.
What are my chances for getting a mortgage after a divorce?
I'm renting, now. And want to buy a house considering the housing market. I want to pay 75k down and refinance the rest (about 140 k) I have good credit score.
I know she is reliable, and she has been making payments on time. Also, I understand the difference between Quick Claim Deed and the mortgage responsibility to the lender??
What are my chances at getting the best mortgage deal available??? If any?? would lenders not qualify my at all?
What should I do? Please help!
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