Hi folks,
I have a divorced couple interested in selling their house. He still lives in the house, she is out of state. The loan (no seconds) is with Chase.
They are both on title and on the loan.
He would like to stay in the house if possible. The problem is, with their combined income, they can make the payments easily.
But since she has moved and is not contributing, he can't afford the house alone.
My question is this: How do they handle the financial reports? What if one or the other does not cooperate? What is the best way to handle this?
Any and or all suggestions are appreciate!
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Richard, since she is out of state ask the husband if she would be willing to quit claim the deed. Submit the quit claim as well as the divorce decree and it will make things easier.
I have a HAFA Chase right now moving along well. Divorced and have decree in hand. Had the husband go to title and quit claim and then I submitted both. No problems thus far.
Good luck!
Eric, Not sure, I was really stating that "if" he had a quit claim already it may be easier with a non coopertaing spouse but if he does not already have one, getting the spouse to sign one is not much different than getting the spouse to sign the deed at closing if they are cooperative.
I think that the spouse doing the short sale just needs to establish that she was left with the home and can not afford it. either way the out of state spouse will still need to sign a deed or quit claim deed, without that they can not close
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