user2514089's Advice

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user2514089 wrote:

Assuming a mortgage in a divorce - experience with Wells Fargo?

Answer
Thank you. I'll probably just refi.
January 13
(0)
Assuming a mortgage in a divorce - experience with Wells Fargo?
I'm in the process of a divorce. I am keeping the house and it is being deeded to me. I am going to remove ex's name from the mortgage and trying to find the most economical way to do so. The current mortgage has a low rate and I'd like to keep that rate if possible. If I refi now I will end up with at least half a point higher rate. I have contacted Wells Fargo, the lender, about assuming the loan. They say that they allow that if I qualify financially, which I believe I will. However it is a lengthy process and they are moving very slowly. So before I waste time pursuing this path versus just refinancing, I want to have some idea whether they really will do this or I'm just wasting time while in the meantime interest rates continue to rise. I don't want to waste months on this and end up having to refi at a higher rate later on. It's a conventional loan, not FHA or VA, and the not says nothing about being assumable so Wells Fargo does not have to do it. Has anyone assumed a loan through Wells Fargo? How long did it take? What are their criteria- is it the same as the usual loan qualification criteria or is there more to it?
January 11
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Exclusive buyer agreement and open houses

Answer
Thank you for all the comments. I had no idea this was such a controversial question! It was just something that I started thinking about after the fact. The buyers' agent did show the house and write the contract.
August 07 2012
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Exclusive buyer agreement and open houses

Answer
Thanks. This is in Virginia.
August 06 2012
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Exclusive buyer agreement and open houses
If you first see a house at an open house, and then submit an offer through a realtor other than the listing agent, who gets the commission? Does the answer change if the buyer was under an Exclusive Buyers Agent prior to the open house?
August 06 2012
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