 kpatrick
Joined: 29 Oct 2007
Posts: 156
Location: Atlanta, Georgia
40.97 Dollars($)
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 Posted: Thu Aug 21, 2008 9:00 am Post subject: |
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It is important, either way that you get one of you off of the mtg and deed. Before you go off and purchase another home, you will want to get it refinanced into one of your names.
If she wants to stay in the home, the question then becomes, can she qualify, on her own, to refinance it into her name. If not, then you would need to refinance it into your name, and she could be your tenant.
If neither of you can achieve the refi on your own, then you definitely want to get with an experienced lender to see if you could qualify for the FHA Secure program. The only other option is for you to sell the home, or if the mkt prevents that , then you could rent the home to a tenant until the mkt comes back around.
Regarding the "stubborn" factor, it is in her best financial interest (and yours) to make sure that this is resolved, one way or the other.
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