Posted on: 09th Dec, 2008 03:20 pm
I want to buy a house before my divorce is final-I live in California. I am having trouble getting a loan because the current house payment which my husband is getting is still on my debt ratio. I have spoken with several lenders and none of them seem to know the answer. How do I get a loan for a new home when my old home is still on my debt ratio. I have excellant credit? :shock:
hi hc,
does the mortgage docs of your current house have your name? in yes, then it will definitely show in your debt to ratio. your husband needs to refinance the mortgage in his name which will remove your name from the mortgage docs. i think then only you will be able to get a mortgage in your name.
thanks,
jerry
does the mortgage docs of your current house have your name? in yes, then it will definitely show in your debt to ratio. your husband needs to refinance the mortgage in his name which will remove your name from the mortgage docs. i think then only you will be able to get a mortgage in your name.
thanks,
jerry
My husband and I want to get divorced. We live in Michigan and only my name is on the house. Will our filing for divorce affect his attempt to buy another home, will the mortgage company know of the divorce?
Hi deanna!
Welcome to forums!
If the mortgage is in your husband's name, then you'll have to refinance it in your name in order to release him from the liability of paying it. Unless this is done, it will be difficult for him to qualify for a loan and buy a new home.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If the mortgage is in your husband's name, then you'll have to refinance it in your name in order to release him from the liability of paying it. Unless this is done, it will be difficult for him to qualify for a loan and buy a new home.
Feel free to ask if you've further queries.
Sussane