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Divorce Assumption Criteria?

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labattiste Joined: 20 Oct 2010 Posts: 1 1.00 Dollars($)	Posted: Wed Oct 20, 2010 9:24 am    Post subject: Divorce Assumption Criteria? Like 0 Dislike 0 My wife and I are going through a divorce/uncontested and I agreed to let her have the house, I just want my name off of the loan. I know with her credit that it will be hard for her to refinance. I heard about something called a divorce assumption. What is generally the criteria in order for you to get one of these or be considered? Also, who is this Divorce assumption usually through? Is it your mortgage lender?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Oct 20, 2010 9:48 pm    Post subject: Like 0 Dislike 0 Hi labattiste! Welcome to forums! Your wife can apply for a simple assumption with your lender so that she can assume the loan and transfer it in her name. However, it will be the lender's discretion whether or not he would agree to it. Feel free to ask if you've further queries. Sussane
Lu Guest	Posted: Thu Oct 21, 2010 6:47 am    Post subject: Divorce Assumption Criteria? Like 0 Dislike 0 Thank you very much for your help. I will try this route and hopefully things work out.
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Oct 21, 2010 9:37 pm    Post subject: Like 0 Dislike 0 You're welcome, Lu!!! If you have further financial queries, feel free to post in the forum.

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