Posted on: 20th Mar, 2009 12:04 pm
My wife and I are going through a dissolution. She will be staying at the house with our two children. She has agreed to pay me $25k for the equity of the house. Is she able to apply for an assumption loan prior to the dissolution or does she have to wait for it to be final? We live in Ohio
hi jeff!
welcome to forums!
as far as i know, auumption of loan comes into question when you are selling the property to someone and want that person to take over the loan. in this case, your wife can apply for a refinance and transfer the mortgage in her name.
feel free to ask if you have further queries.
sussane
welcome to forums!
as far as i know, auumption of loan comes into question when you are selling the property to someone and want that person to take over the loan. in this case, your wife can apply for a refinance and transfer the mortgage in her name.
feel free to ask if you have further queries.
sussane
Can she do this prior to the dissolution being offical?
Hi Jeff S!
Welcome back to forums!
She can do this before the dissolution is official provided you transfer the property in her name through a quitclaim deed.
Sussane
Welcome back to forums!
She can do this before the dissolution is official provided you transfer the property in her name through a quitclaim deed.
Sussane