Posted on: 05th May, 2010 07:28 am
i have a existing va mortgage with my name and my ex-wife, the house has been awarded to her in the divorce. the divorce papers has her responsible for the mortgage and the title of the house has been signed over to her and her husband, but they are unable to refinance due to thier poor credit hisory, with this existing mortgage on my credeit repert count as part of the debt to income ratio.
Hi matthewstephens,
As your name is still mentioned on the mortgage deed, it will be considered while calculating your debt to income ratio. Unless your ex-wife and her husband refinances the loan in their name, you would remain liable for its payment. If they default the mortgage payments, then the lender will come after you for the payments.
Take care.
As your name is still mentioned on the mortgage deed, it will be considered while calculating your debt to income ratio. Unless your ex-wife and her husband refinances the loan in their name, you would remain liable for its payment. If they default the mortgage payments, then the lender will come after you for the payments.
Take care.
One way you might be able to remove it from your DTI is by proving that they make the monthly payments through consecutive cancelled checks.
There is no reason for the mortgage payment to be included in your debt to income ratio as long as you can provide the correct documentation.
the documentation I have are the divorce papers signed by a judge and the title of the house signed over to my ex-spouse and her husband.
Hi Matthew,
That should work.
That should work.