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Profile picture for terriramey1

What can I do to get more (or better) quotes for my loan request ZR-WJHHVFN?

My debt ratio is high due to divorce, my ex husband cannot get my name off the loan for the $130000. or so but in my divorce papers it states I do not have anything to do with that payment. I was told by the attorney that with those papers I could get a loan. I just received notice from my bank that I am 1 payment behind (due to an injury I am out of work) and they are going to start foreclosure. PLEASE HELP ME!
  • November 14 2013 - Independence
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Answers (2)

Profile picture for terriramey1
I have been off the job since June 6, and am receiving workers compensation pay. I also just found out that with the small amount of money I need to refinance, many lenders don't want to do it. I only need $40,000 and that will pay off the house and leave some extra.
  • November 14 2013
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Typically a lender will review the divorce degree and go by what it states. So what that means is whatever the decree says you are not liable as that would be excluded in your debt-to-income ratios, even if it shows on your credit report. This helps you qualify for a mortgage but unfortunately doesn't stop from the credit item reporting negatively if it's past due or in collections. By all means you will need to avoid having this loan going into foreclosure and getting yourself removed. How long have you been off the job and are you receiving some type of disability? 
  • November 14 2013
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