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New Home Purchase While a Divorce is Pending

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  • 05-19-2014, 01:55 PM
    readytoleave
    New Home Purchase While a Divorce is Pending
    My question involves a marriage in the state of: Ohio

    My husband and I are moving forward in a fairly amicable dissolution. He is keeping the house, since it was in his name prior to the marriage. I am currently living with my folks with my daughter, and am looking at purchasing a small home for the two of us. The down payment will be funded by a portion of 401K which he is entitled to a small percentage of, but not until retirement age.

    My question is this... The realtor has indicated that i will have trouble getting financing because the dissolution is not yet final, and although the dissolution is amicable and neither of us is interested in reconciliation, my husband is terrible about keeping appointments with his attorney which is slowing the process down. Is there a form that my husband could sign that would be able to relinquish any claim that he would have to the new property to satisfy the lenders? Is this something that we could have put in place while we are still in negotiation about the other things?

    Thank you for your time.
  • 05-19-2014, 02:57 PM
    jk
    Re: New Home Purchase While a Divorce is Pending
    Quote:

    Is there a form that my husband could sign that would be able to relinquish any claim that he would have to the new property to satisfy the lenders?
    that is something your lenders will have to tell you. Bottom line; you are not divorced until the gavel strikes the block so until then, there is a possibility the divorce will not be finalized. While you see it as there is no chance it won't come to fruition, the guys with the money don't know you well enough to take that gamble.
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