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melodyflds · Joined: 09 Jun 2009 Posts: 1 1.40 Dollars($)

Our house was previously paid off and he (X) took out a line of credit against it. We are now seperated and have been for 1-2 yrs. Iam listed on the deed but not on the line of credit. I was told that I needed to list his line of credit monthly payment ( which I do not pay) into my expenses just incase he defaults on it . If I do this combined with my monthly rent and my true expenses it puts me over the debt to income ratio. Is this correct? Should I shop another lender? Can I sign off on a Quick claim deed or a interspousal transfer? Would this remedy my issues with the lenders ?

papisalsa1 · Joined: 09 Jun 2009 Posts: 4 2.48 Dollars($)

After having the worst experience in the Florida market, my advise is to get a competent attorney to help you with your transaction.

eric1 · Posted: Tue Jun 09, 2009 7:12 pm Post subject:

The quit claim deed would essentially accomplish what you are looking to do unless you expect to see proceeds from the sale of that home one day.

You can also go to another lender and this may not be an issue.

Realgeni · Joined: 13 Apr 2009 Posts: 1434 99.76 Dollars($)

melodyflds

Welcoem to the form.

Quit claim deed will relase you from the property, but not from the loan if your name is on it.

If you can prove that yoru X is mkaing all the necessary payemnts on the HELCO, then you shoudl be able to get the loan for your new house.

Good luck and feel free to ask

Realgeni
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Can I buy A home In florida if I am only seperated?