Posted on: 25th Oct, 2012 07:00 pm
I am currently going through a divorce and I am and have been the only income for the last 4 years. I want to keep the house but he wants to be removed from the mortgage will BOA allow a simple assumption? We are also upside down by about $60k and I was going to look into the making homes affordable plan, will BOA allow both or with the MHAP can get his name removed?
Thanks for your help!
Thanks for your help!
Hi Guest,
If your loan docs allow a simple assumption and if you meet all the required criteria of the lender, then he will allow you a simple assumption to get the loan transferred in your name. Once you remove his name from the loan docs, then you can contact the lender for the Making Homes Affordable Plan.
Thanks
If your loan docs allow a simple assumption and if you meet all the required criteria of the lender, then he will allow you a simple assumption to get the loan transferred in your name. Once you remove his name from the loan docs, then you can contact the lender for the Making Homes Affordable Plan.
Thanks
Welcome Guest,
It will be completely the lender's discretion whether or not they will provide you with a simple assumption. You should contact your lender and negotiate with him for a simple assumption.
It will be completely the lender's discretion whether or not they will provide you with a simple assumption. You should contact your lender and negotiate with him for a simple assumption.