Home Buying in Dallas>Question Details

Bambina, Home Buyer in Dallas, TX

Separating but have a mortgage with common law husband. I want to buy. Would the lender be considering the full mortgage against me or half being.?

Asked by Bambina, Dallas, TX Mon May 16, 2011

Help the community by answering this question:


You need to get your name off that mortgage.
It's yours until it is paid off.
Also if you are still legally married, then if you buy a new place, that may be part his as well.
Get a good family attorney to help you work through all the issues.
0 votes Thank Flag Link Mon May 16, 2011
Bruce Lynn, Real Estate Pro in Coppell, TX
Best confer with mortgage broker HOWEVER if you have a mortgage that is in your name YES that debt would be considered when facting a mortgage

Have your common law husband refinance the loan have you removed.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Mon May 16, 2011
You need legal advice. If you purchase another residence rior to finalizing a "divorce", your soon to be ex-husband may get an interest in your new purchase. Get your ducks in a row and slow down on your proposed purchase until you get a family law attorney to help you with your decisions.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Mon May 16, 2011
The main question is are you a borrower/co-borrower on the mortgage? If so, you have the full obligation to consider in prequalifying for a new mortgage until such time as you have a 12-month track record of your "ex" paying the mortgage or your "ex" refinances and your name is no longer on the mortgage (if it is currently).
0 votes Thank Flag Link Mon May 16, 2011
Both of you are responsible for the current mortgage until your divorce attorney separates your community property including your homestead. Suggest you take it one step at a time...legally separate the estate before you attempt to buy.
Ralph VanDuzee
Ebby Halliday Realtors
0 votes Thank Flag Link Mon May 16, 2011
Contact a lender of your choice and they can assist you better with any and all questions.

Best of luck.

0 votes Thank Flag Link Mon May 16, 2011
The husband could refinance the house into his name and if he owes you equity, he could pay you out. This would require a divorce decree or legal agreement. If there is no equity, all that would be required is the same awarding the property to him. If you are wanting to purchase prior to a formal divorce, the full payment will be counted against you. You are both equally liable for the debt.
I've worked with many clients in this situation. Please call me. You may qualify with the debt.
Melissa Bachmann
Sr. Loan Officer
0 votes Thank Flag Link Mon May 16, 2011
Hi Bambina!

Please give Carol Werther a call. She is with Home Team Mortgage and she is great! She should be able to answer your question and help you figure out some financing options...if needed. Her office number is: 214-210-1600.
0 votes Thank Flag Link Mon May 16, 2011
I agree with Karen. If you would like to speak with a local Dallas Lender let me know.
Web Reference: http://Justinhenryhomes.com
0 votes Thank Flag Link Mon May 16, 2011
Hi Bambina,

Most likely you are each responsible completely for the mortgage......so either of you would have the full amount of the mortgage show up on your credit. I would suggest you try and get it refinanced out of your name.

Talk to a lender and possibly an attorney about this as well.

0 votes Thank Flag Link Mon May 16, 2011
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