My future ex-husband wants me to refinance our home to get h

jbaley779 · Joined: 09 Aug 2007 Posts: 2 1.86 Dollars($)

The mortgage is in his name alone, although the ownership is community property. He has quitclaimed the home over to me.

I cannot qualify myself for a new loan. The property has also dropped in value somewhere between $25,000-50,000.

What are my options?

miller_st · Joined: 17 Jan 2007 Posts: 917 168.84 Dollars($)

Jjbaley,

You may the lender to let you continue the payments for some time until you can qualify for a refinance yourself. But it is possible that lender might not agree to such an arrangement.

Why do you think that it would be difficult for you to qualify for a refinance? What is your income like? Refinance is possible even if your credit score is not good but with marginally higher interest rates than normal.

Also tell us about the equity position of your house. You are saying that its value has gone down by as much as $50,000, are you suggesting that you owe more on the loan than what the house is valued at currently?

Miller

Niicss · Posted: Thu Aug 09, 2007 3:14 pm Post subject:

Guest 0.10 Dollars($)

"I cannot qualify myself for a new loan."

Why can't you qualify for a loan? Did any lender tell you like that or you have understood by yourself?

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