Sorry to hear about your ordeal, I too was a victim of a divorce so I feel your pain. On government loans i.e. FHA., VA, USDA, there are special concessions giving for those how are affected as a result credit late payments after a divorce. For example, I have a lady I am currently working on closing her loan. Her husband in their Final Divorce Decree was awarded their house and several credit cards. It clearly stated in her settlement agreement that he alone will retain title to the home and will be solely responsible for the debts. After the divorce was final, he was late on the mortgage and one of the credit cards which affected her credit score since she was on the loan and on the credit card account. Since the final settlement agreement neglected to mention the husband had to refinance the home or payoff those credit cards by a specific date, her credit will continually be susceptible to his payment history. Although there was noting she could do about the damage to her credit, the underwriter in he case only required evidence that property was no longer in her name and to see a copy of her final divorce decree. The same thing applies for credit card accounts, collections, and charge-offs. You can actually go online and place a consumer dispute on each line item listing that debt(s) are now the responsibility of your former spouse through divorce. So to answer your question, yes you have hope if you in the hands of an experienced loan officer. Please feel free to contact me if you have any questions.
Best of Luck!
Nationwide Mortgage Banker... more