---

Can I buy a house before my divorce is final in arizona?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
jenhannah73 Joined: 15 Jul 2010 Posts: 1 1.39 Dollars($)	Posted: Thu Jul 15, 2010 3:01 pm    Post subject: Can I buy a house before my divorce is final in arizona? Like 0 Dislike 0 I have filed for divorce and just received an unexpected inheritance, my lease is up soon and I would like to buy a house. Do I have to wait for the divorce to be final? I live in arizona and so does my husband. I have a discharged bankruptcy in the past year, and also a house going through reposession. Great payment history on the bankruptcy (until I gave up because the house was so underwater). I didn't have any other debt on the bankruptcy other than debt related to my house (no credit card debt). I have appr. $15,000 to put down on a home, will a mortgage company even talk to me? How about with a co-signer? I have a great rental history for one year, and am paying the equivalent of a house payment in rent. payment in rent every month
adonis Joined: 22 Oct 2005 Posts: 10542 Location: ALASKA 1086.66 Dollars($)	Posted: Thu Jul 15, 2010 9:41 pm    Post subject: Like 0 Dislike 0 Hi jenhannah, As Arizona is a community property state, it would be better to complete the divorce proceedings and then buy a new property. You won't be able qualify for a mortgage just after a year of your bankruptcy discharge though you have a great payment history. Depending upon the type of bankruptcy you filed, you may have to wait for 2-4 years in order to qualify for a home loan. If you had filed for Chapter 13, then after the discharge you'll have to wait for 1 year to get a FHA loan and 2 years to get a conventional loan. If you filed for Chapter 7, then you need to wait for 2 years to get a FHA loan and 4 years to get a conventional loan. _________________ Procrastination is the enemy of your financial success
shane Joined: 03 Dec 2007 Posts: 240 Location: Orange County, CA 51.84 Dollars($)	Posted: Sat Jul 17, 2010 9:59 am    Post subject: Like 0 Dislike 0 It sounds like you may have included a mortgage in the bankruptcy ("... house was so underwater" and "... debt on the bankrupcy... related to my house"), if so, then that is considered a foreclosure and requires 3 years to elapse from the time they legally took back posession of the home (check with the county clerk/recorder). _________________ Shane Milne TheBestHomeLoans.com More about Shane and Client Testimonials Mortgage Banker & Broker 949-273-4161 Lending in all 50 states FHA/VA/USDA/Coventional

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0