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Novation Question

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Guest	Posted: Tue Jan 18, 2011 3:16 am    Post subject: Novation Question Like 0 Dislike 0 Hello, I've been poking through these forums and really appreciate everyone's help and expertise. Anyway, here's the scenario: My ex-girlfriend and I purchased a home 18 months ago. We have an FHA loan. We broke up. I'm now living in the house making the payments myself. It has been difficult to make the payments, but I've made it work. I don't think I'd qualify for a refinance on my income alone. How likely is it for me to get a novation request approved? Are there some basic prerequisites involved, even when the lender does agree to it? Do they do any kind of income verification? Like I said before, it hasn't been easy, but I've been making it happen and intend on staying in my house for a while. I just want to make things as easy as possible by removing her from the loan altogether. Thank you for your help! (Sorry if I put this in the wrong section.)
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Tue Jan 18, 2011 10:07 pm    Post subject: Like 0 Dislike 0 Hi Guest, It will be the complete discretion of the lender whether or not the lender will consider your request for a novation. The lender will check your income as well as your credit situation before he considers your request. Thanks

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