I need to have some of you experts weigh in;
I have a home...it must be short-sold.
My wife and I are going through a divorce
She was "quit claimed" off the property, but our state is a "community asset" state.
She wants to have someone she knows buy the house...have her stay in the home, and then rent it back to her. It would allow the kids to stay in the house and not be disrupted by a move.
If there is a way I could sell the house under these guidelines, and not get into trouble, I would do it, however....
From everything I have seen and am being told by my real estate agent, and other local real estate professionals, they would not participate in a sale of this nature...they all say it violates the "arms length"
regulations. They say it could "unwind" the sale or even result in charges of mortgage fraud.
She is not on title or loan. What should I do?
Thanks for any advice you can forward.
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