I am living in a house that the mortgage is in my husbands name only he split and left the country, I filed for divorce and should be going to court soon. I would like to refinance the house in my name my credit score is around 650 do you think this is possible or what can i do. I have been making payments but the company won't even let me pay online because my husbands name is only on it. What option do i have?
2007-08-14 12:51:42 · 5 answers · asked by mistiful2001 2 in Business & Finance ➔ Credit
I would try pre-approving for a loan now. That way you will know if you qualify for the loan and if you can for sure get it. Then after the divorce is final you should be able to use those papers as proof to get a new mortgage or have the existing one changed over to your name. I would ask your lawyer what steps are necessary just to be sure.
2007-08-14 13:03:31 · answer #1 · answered by lcritter55118 4 · 1⤊ 0⤋
If you can show that you have been making the payments with canceled checks for at least 6 months or preferably more, you should be able to get the mortgage refinanced. It would really help if you can provide the divorce decree or separation agreement, but if you don't have either, show that you have filed, and if you can prove that your husband has left the country, offer that proof as well.
Keep in mind that right now, it is an extremely difficult time in the mortgage industry so you may have to do some legwork but find yourself a good mortgage broker or even your bank if you have a relationship with them and bring as much documentation as you can once you have selected someone you feel you can trust.
Good luck.
2007-08-14 20:03:00 · answer #2 · answered by hoa_craig 2 · 0⤊ 0⤋
I work for one the largest mortgage banks in the country.
You need to "refi" your loan into your name. If you husband left the country this might pose a problem and require court litigation. I would contact the mortgage company and an attorney. As a lender, if you want to refi into your name, your husband must sign off allowing you to do so... You also need to show "vested interest" to the lender. In this case you mentioned that you paid the mortgage which is good. Get copies of your last 12 months of cancelled mortgage checks and you are set there. You said you have been making payments but they won't accept? did you write checks directly to the mortgage lender or did you pay your husband? You need to establish a link between you and the property. If he made the payments each month and you just handed him cash that could pose a problem.
2007-08-14 20:37:55 · answer #3 · answered by Richard S. 3 · 0⤊ 0⤋
It sounds like your making payments on his asset. Hire the best attorney you can afford to make the changes you need.
2007-08-14 20:01:07 · answer #4 · answered by back from the dead 6 · 1⤊ 0⤋
have the attorney correct all the documents.
2007-08-14 19:58:32 · answer #5 · answered by Michael M 7 · 0⤊ 0⤋