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  1. #1
    Join Date
    Sep 2016
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    13,916

    Default Can You Refinance a Home During Divorce

    A Texas woman purchased a home five years before she married. She has maintained the home as separate property throughout the marriage. She is now in the process of divorcing her husband. She tried to refinance the home, but the bank says that they will only issue her a mortgage if her husband is added to the deed. How can she get the loan without risking giving him a claim to her home in the divorce?

  2. #2
    Join Date
    Sep 2005
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    98,846

    Default Re: Refinancing a Home During Divorce

    I can understand why the lender would want her husband to sign documents agreeing that he would not assert any right to the property if there is a foreclosure, or finding that the wife needed an additional person on the mortgage to qualify for the amount that she wants to borrow, but it would not make sense for them to demand that he be added to the deed. The woman should clarify the lender's needs and get their explanation; if she can't get past that requirement, her best option may be to simply look for a different lender.

    She can speak to her divorce lawyer about the possibility of entering into a property settlement agreement that would protect her rights if she adds her husband to the deed, but it's likely best that she find a way to avoid adding him at all. In the alternative, she can wait until after the divorce is final to refinance.

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