Should I refinance before or after divorce?
Should I refinance before or after divorce?
Starting the refinance process before the divorce is filed is by far the quickest and easiest path. This is because, when you talk to your mortgage lender about refinancing, they will ask you your marital status.
Why does the mortgage company need my divorce decree?
Lenders want to see divorce decrees because that’s the only way to determine if there are any support payments between the two former lovebirds. If you’re counting on support payments to help qualify for a mortgage then the decree will verify the amounts to be paid and how long they’re to continue.
Can you get a mortgage while getting divorced?
Another way to split the mortgage between a divorcing couple is to refinance the mortgage under the name of one spouse. Since divorces are costly enough as it is, it may not be in your best interest to spend even more money on refinancing. So, make sure you have the money to refinance if you plan to do so.
Does FHA require a divorce decree?
From HUD 4000.1: “The Mortgagee must obtain the official signed divorce decree, separation agreement, maintenance agreement, or other legal order. Divorce is not a barrier to an FHA mortgage.
