Posted on: 10th Nov, 2010 01:23 pm
i was wondering if there's a chance i'm eligible for the home affordable program or maybe a refinance.
my wife and i are recently separated and have a legal separation agreement. the mortgage is in both our names. i'm paying her child support and spousal support. she's renting a house and i'm living in our house. her only income is the support payments and a little social security disability, but she does have about $50,000 in the bank from an insurance settlement.
we've agreed that as long as i make the mortgage payments i can stay in the house, and when we eventually sell it my share will be prorated.
if we don't qualify for something we're going to have to sell asap.
my wife and i are recently separated and have a legal separation agreement. the mortgage is in both our names. i'm paying her child support and spousal support. she's renting a house and i'm living in our house. her only income is the support payments and a little social security disability, but she does have about $50,000 in the bank from an insurance settlement.
we've agreed that as long as i make the mortgage payments i can stay in the house, and when we eventually sell it my share will be prorated.
if we don't qualify for something we're going to have to sell asap.
Hi jrlucarelli!
Welcome to forums!
If you're facing hardship in paying off the mortgage payments, then you should contact your lender and apply for Home Affordable Program. The lender will check your financial situation in order to let you know whether or not you'll qualify for the same. If he offers you the same, then you'll be able to save the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you're facing hardship in paying off the mortgage payments, then you should contact your lender and apply for Home Affordable Program. The lender will check your financial situation in order to let you know whether or not you'll qualify for the same. If he offers you the same, then you'll be able to save the property.
Feel free to ask if you've further queries.
Sussane
IF she is still on the note but is renting her own home, you may still need her information to qualify for a loan modification. Unless you are 100% divorced most lenders will still require both of your information. You can also request to have the lender remove her from the loan and when they modify it the loan would only be in your name. It has happened on occasions, but you will need to stress that she has no responsibility for the house. Always contact your lender or find a source you can go to for assistance. Who is your lender?