refinance due to divorce

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VA Streamlines After a Death, Divorce, Marriage. Posted on: April 1, 2017. by Ron Bennett, VA loan officer and 35-year US Army Veteran (NMLS 57792) While writing this blog, I received a call from a family member that my cousin wanted to look into a VA streamline refinance, or IRRRL, to make the payments more manageable.

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The most common way to separate completely, if both of you are on the mortgage note, is by selling or refinancing. If the wife wants to stay and she can afford the payments after the divorce, she has to refinance and take you off the mortgage. And vice versa. Refinancing During Divorce

Refinancing Due to Divorce. Lenders have their own rules when it comes to refinancing, and many lenders base their decisions on factors like the equity in the home and spouse’s income and credit history. It can be very difficult to find a lender willing to refinance a mortgage that is upside.

The biggest issue with refinancing before a divorce is that, in order to take advantage of a higher DTI ratio with your spouse, you’ll have to recommit BOTH spouses’ names to the title of the home and the mortgage, even though only one will continue living in the home and making the mortgage payments.

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November 28, 2011 – In situations where a borrower wishes to refinance an FHA mortgage with fha streamline refinancing, there may be a need to add or remove another borrower. If a borrower is getting a divorce, for example, refinancing the property under a single person’s name (removing the spouse) would make sense.

Divorce - REFI Before or After? fha streamline refinance benefits. Does refinancing due to divorce affect the adjusted basis of. – "Does refinancing due to divorce affect the adjusted basis of a home if done years before converting to rental?" A former personal resident is the lesser of adjusted cost basis or FMV. on conversion to a rental property.

Our divorce decree says I must sell when our youngest child graduates. However, he does not want to sell now due to the lousy market and would rather wait until prices come up. He says he will.