Posted on: 07th Jan, 2009 04:55 pm
Back in 1997 or 1998 my ex husband and I bought a house. In 2000 we got divorced. I didn't want the house so he kept it and assumed responsibility for it. He was to keep all the bills since I was not taking the house or any part of it. 6 months after the divorce he files bankruptcy and 3 years ago he lost the house. I found out that his lawyer scammed me and never told me that the QuickDeed I signed was only taking my name off the house , not the loan. I was young, I had no lawyer and did whatever to just get out. Now that I am older and see what happenned, I could scream! I have not lived in that house or been responsible for it for 9 years! Will I ever be able to purchase a home again with my husband now?
hi guest,
yes, you will be able to purchase a home with your husband. you haven't mentioned the type of bankruptcy he filed. however, if it was a chapter 7 bankruptcy, then you may apply for a fha mortgage if 2 years have passed from discharge. for conventional loans, you'll have to wait till 4 years after discharge. if your ex-husband had opted for chapter 13 bankruptcy, then you can get fha loans if 1 year have passed after discharge. for conventional loans, you will have to wait for 2 years after discharge.
thanks
yes, you will be able to purchase a home with your husband. you haven't mentioned the type of bankruptcy he filed. however, if it was a chapter 7 bankruptcy, then you may apply for a fha mortgage if 2 years have passed from discharge. for conventional loans, you'll have to wait till 4 years after discharge. if your ex-husband had opted for chapter 13 bankruptcy, then you can get fha loans if 1 year have passed after discharge. for conventional loans, you will have to wait for 2 years after discharge.
thanks
One of the things you can do with your new husband is put the loan on your new home in his name if he can qualify for the mortgage with just his income. You can still be on the deed. Doing this will keep your credit history out of the picture.
i think jameshogg misunderstood in part. only your former husband filed bankruptcy, right? if that's the case, then it won't harm you.
what i'd do in your shoes: gather together all the documentation you have (divorce decree, separation agreement, copy of quit claim deed and any other correspondence you may have concerning the transfer of the property) and use it to convince your proposed mortgage lender - when the time comes - that your responsibility for that old home had been vacated. i'm not sure you can truly say you were scammed into thinking the mortgage would be changed to his name only. actually, that should have been spelled out for both of you in the divorce proceedings.
eric makes a good point, also; but of course much depends on how well your husband qualifies on his own.
there is a waiting period after a foreclosure (2-4 years); unfortunately, i'm not having any luck in locating the guideline for that right now. if i find it i will post it later; otherwise, someone else may be more intimate with the details lately, and be able to share.
what i'd do in your shoes: gather together all the documentation you have (divorce decree, separation agreement, copy of quit claim deed and any other correspondence you may have concerning the transfer of the property) and use it to convince your proposed mortgage lender - when the time comes - that your responsibility for that old home had been vacated. i'm not sure you can truly say you were scammed into thinking the mortgage would be changed to his name only. actually, that should have been spelled out for both of you in the divorce proceedings.
eric makes a good point, also; but of course much depends on how well your husband qualifies on his own.
there is a waiting period after a foreclosure (2-4 years); unfortunately, i'm not having any luck in locating the guideline for that right now. if i find it i will post it later; otherwise, someone else may be more intimate with the details lately, and be able to share.
