Posted on: 25th Apr, 2011 10:43 am
Hi,
I am doing a short sale of my house in California. My wife is on title along with me but she is not on the loan.
Can we buy a house immediately after short sale by taking a loan on my wife's name?
Will there be any problem while buying another house on her name as she is on the title of the current house which we are going to do short sale.
Will it be helpful if my wife does an Inter spousal transfer before the short sale?
Thanks in Advance!
I am doing a short sale of my house in California. My wife is on title along with me but she is not on the loan.
Can we buy a house immediately after short sale by taking a loan on my wife's name?
Will there be any problem while buying another house on her name as she is on the title of the current house which we are going to do short sale.
Will it be helpful if my wife does an Inter spousal transfer before the short sale?
Thanks in Advance!
Hi ak!
Welcome to forums!
The short sale will not affect your wife as she is not on the loan. Your wife can buy a property solely in her name just after the short sale. She won't face any problems in getting a mortgage if she has a good credit score and income. As far as inter-spousal deed is concerned, you should speak to a real estate attorney in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
The short sale will not affect your wife as she is not on the loan. Your wife can buy a property solely in her name just after the short sale. She won't face any problems in getting a mortgage if she has a good credit score and income. As far as inter-spousal deed is concerned, you should speak to a real estate attorney in this regard.
Feel free to ask if you've further queries.
Sussane