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Hardship Qualification

Posted by Geayne Verhees on July 19, 2010 at 11:44am
Sellers divorced beginning of the year. Former husband lives in home and verbally agreed to keep B of A mortgage payments up to date. He's 4 months behind and can prove financial hardship but former wife could not prove hardship. Question: is a divorce enough and how will wife's income affect an approval? Any suggestion appreciated. G............
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  • Bryant Tutas July 21, 2010 at 12:35am
    Divorce is certainly a hardship. This is a short sale waiting to happen. Just remember if the wife is on the mortgage then she will have to provide her financial info as well. Did the divorce judge decree that the husband live in the house? I don't think that matters but it would make the case stronger if you could show a court order.
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