Posted on: 26th Dec, 2010 04:21 am
please guide my friend-
"I am married due to religous reasons I will stay married but I would like to buy my own home. I have been removed from my husbands mortgage. I have excellent credit have been approved for 150000.00 loan but due to the marriage lenders wont give me a fha loan what can be done?"
"I am married due to religous reasons I will stay married but I would like to buy my own home. I have been removed from my husbands mortgage. I have excellent credit have been approved for 150000.00 loan but due to the marriage lenders wont give me a fha loan what can be done?"
Hi sunil,
If your friend doesn't live in a community property state, then she will be able to buy a property of her own. Your friend won't require her husband's signatures on the property deed. However, if she is living in a community property state, then the lender will want her to add her husband to the mortgage and the property deed. She can ask her husband to sign an inter-spousal deed releasing all his claims over her property. This might help her in getting a FHA loan on her own.
If your friend doesn't live in a community property state, then she will be able to buy a property of her own. Your friend won't require her husband's signatures on the property deed. However, if she is living in a community property state, then the lender will want her to add her husband to the mortgage and the property deed. She can ask her husband to sign an inter-spousal deed releasing all his claims over her property. This might help her in getting a FHA loan on her own.