Posted on: 18th Jul, 2009 04:48 pm
1. i was ordered by a judge in my divorce to sell the home or refinance to give my ex $30,000, and me the same. i put the home on the market for six months, and now i have only 5 months left. i was told today that i cannot refinance for 6 months now. i have to get him that money by decemeber. what can i do?
2- i have talked only to quicken loans and they told me because of all the turmoil in my credit even though i have a score of 630-690 depending on the credit company i have no way of getting money out of my home in a refinance and my rate would be high. i have a loan of 75,000 now and a value on the home of 160,000. how can i get out the 30 for him and the 30 thousand for me?
2- i have talked only to quicken loans and they told me because of all the turmoil in my credit even though i have a score of 630-690 depending on the credit company i have no way of getting money out of my home in a refinance and my rate would be high. i have a loan of 75,000 now and a value on the home of 160,000. how can i get out the 30 for him and the 30 thousand for me?
one option would be co-ownership after the divorce is final. Under such an arrangement, you both continue to own the house, contributing jointly to pay the mortgage, taxes and upkeep.
A lot of times people will co-own the house for two or three years with a drop-dead date by which time the house will either be placed for sale or one party will buy out the other party's interest
last option is to sell the house.
A lot of times people will co-own the house for two or three years with a drop-dead date by which time the house will either be placed for sale or one party will buy out the other party's interest
last option is to sell the house.