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A path that allows one person to stay in the home, and is more common than a mortgage assumption, is for the remaining owner to refinance the mortgage loan into their name only.
A mortgage lender might ask you to write a letter of explanation to better understand your finances when deciding whether to approve you for a loan. While your lender’s underwriting department ...
4. Other mortgage options after divorce. There are a few other mortgage options that may be worth considering amid a divorce. For instance, it is possible to keep the mortgage as-is, but this ...
In certain situations, the United States Federal Government can waive all or a part of an education loan through the Stafford Loan Forgiveness program. Eligibility for the program depends on the borrower meeting certain service criteria after they have completed their education. These can include one of the following:
The party filing for the divorce must prove that the other party has done something to justify ending the union. [8] Different states have different requirements for obtaining a fault divorce but in each state the spouse filing for the divorce is required to establish a reason for the divorce and provide evidence of the other party’s guilt. [8]
Unfortunately divorces are a part of life and if you're unfortunate enough to go through one then there are a few things you need to understand regarding your home, mortgage and future credit.
A forgivable loan, also called a soft second, is a form of loan in which its entirety, or a portion of it, can be forgiven or deferred for a period of time by the lender when certain conditions are met.
Getting a mortgage is challenging enough -- with strict underwriting requiring detailed explanations, sourcing of monies and debt ratios -- but adding a divorce to the picture makes it even more ...