Hi, as far as an answer to your question I would say that yes you can request that but it is unlikely they would accept it. One reason is because they generally don't but also because you would also basically be asking for a loan modification. You mentioned the home is in your wife's name and she has had no income for the last 4 years.....she will not qualify for a loan modification but she would likely get approval by the bank to do a short sale. Atleast that way she could get out from the debt. Also, aside from the fact you mentioned having inconsistent income yourself, the fact that you are not listed on this home makes it to where you could possibly qualify to purchase a new home at today's prices......this would also ofcourse depend on your income and how long you have been doing the same line of work.....Call me and we can discuss this further. I would like the chance to discuss w/ you the options available. You can reach me at 702-370-1072 or via email at email@example.com.
Laura Bauer w/ Foundation Realty, LLC