“Staying Married and Want to Live Separately”
Three times so far this year this has been the situation. It is hard for a lender to get their arms wrapped around this concept. Some lenders just won’t do this loan, but others figure out a way to make it work. Underwriters want to know:
1) Is there a divorce pending? NO
2) Is there a separation agreement? NO
For whatever the reason, they cannot live together so they are doing something about it. Most of the time they want to stay near kids, but there are other reasons as well that have been shared with me that turned out to be more information than I needed to know.
One thing that is good about this type of situation, yes there is something good here, additional homes that get sold instead of one of them having to rent.
Image courtesy 0f stuartMiles/free digitalphotos.net
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
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