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carrie7070
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Reged: 11/09/05
Posts: 1

buying a house?

#42694 - 11/09/05 08:34 AM

Hi all, I have some questions and will try to keep this brief if I can.

My husband and I have been married in PA for one year. We own a house together (both names on mortgage and deed).

Since we are going to divorce, I would like to buy my own house, and allow him to either refi or sell the house and I would like a small percentage back. My mortgage broker said that if I try to buy my own house, I will need a "legal separation of assets" document to show the mortgage company. Does my husband have to sign this?? Or does the lawyer just draw this up? I would like to buy my house before our divorce is settled. What if my husband will not sign this paper?

Second, my best friend lives in NH and is separated and going thru a divorce. They own a house, however his name is not on the deed. Both their names are on the mortgage, and only her name is on an equity loan. She left the house in January and he has been paying all bills since then. She does not want the house and is trying to claim bankruptcy. He is trying to refi but not sure if he can. If they sold the house, and if there was a loss (some of the house is under construction), how is that debt paid back? Do the lenders make payment plans? How does that work?

Thanks so much for any help at all.

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