Posted on: 04th Jun, 2010 07:19 pm
my ex husband filed bankruptcy against the mortgage on my home after our divorce was final and he was discharged by the bank. i was awarded my home in our divorce and i have had his name removed from the property. the problem at hand is he is pushing for an assumption mortgage on my part. i have tried to do a loan mod and refinance but my income is not enough to get approved. the payments have never been late since i took over and my credit score is 735. i have money in my savings to back up my income but it doesn't seem to make a difference. do i have any options? the house isn't worth what i owe on it.
Hi susieqf,
Unless you have a good credit, your lender will not be ready to refinance the loan. As far as assumption is concerned, it will be completely the lender's discretion whether or not he will agree to it. You will have to contact the lender and negotiate for a loan assumption.
Thanks
Unless you have a good credit, your lender will not be ready to refinance the loan. As far as assumption is concerned, it will be completely the lender's discretion whether or not he will agree to it. You will have to contact the lender and negotiate for a loan assumption.
Thanks