Spouses who can’t sell or refinance need to put specific safeguards in the divorce decree, said Christian Denmon, founding partner of Tampa-based Denmon & Denmon law firm. For example, say the spouse who stays in the home plans to refinance the mortgage into his name.
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But it is not a ideal if you need to finalize your mortgage situation right away. VA refinance loans during divorce. You can use a VA streamline refinance to remove a spouse after a divorce.
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If one spouse plans to live in the home after the divorce, the court can order, or the spouses can agree to have, the spouse who remains take over the financial responsibility of paying the mortgage. However, there are few laws that specifically govern refinancing for a divorce situation and such refinances can be complicated.
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If you depend on your ex-wife to refinance your marital home after a divorce and she does not, she faces more than just your contempt.
· One very popular question that I frequently receive is how to remove your name from a house deed after a divorce. Often, a divorcing couple’s most valuable asset is their marital home.In a divorce, couples are concerned about how to divide the equity in their home, which is the difference between what the home is worth and any loan on the property.
Getting a mortgage after a divorce can be a challenge. A divorce may end your marriage, but your finances can remain intertwined for years to come, adding to the challenge of qualifying for a loan. So what can you do? As a rule of thumb, you want to try to separate your finances and credit from those of your ex as much as possible.
· A 1982 federal law helps you get your name off a home loan after divorce without having to refinance or sell the house.
One spouse applies for the mortgage refinance, requesting cash money coming out. Some people worry about doing this before the divorce is final. Even after the transaction and until the divorce is.
If you’ve been through a divorce, a fresh start can come with additional matters to consider if you’re trying to buy a house or refinance your current mortgage. Let’s discuss re-entering the mortgage market after a divorce. Income