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FHA and Divorce

My husband and I may be getting a divorce. We have been in the house for 1 year. What are the ramifications of getting a divorce with a 1 year FHA loan? What are our options if 1 of us wants to keep the house? What are the options if neither wants to keep the house? Can we sell after 1 year? by susufloriday from Miami, Florida. Feb 22nd 2011 Reply


Lee Eisenberg (Lee@Lemort.com)
#80 ranked lender in Florida - 5 contributions

There are no specific ramifications of getting a divorce while you have a FHA mortgage. Just remember that you both have signed the mortgage and note and are both responsible for the mortgage until the lender releases one of you from liability. A divorce will not release you even if it's court ordered in the agreement. The FHA mortgage is assumable, which would allow either of you keeping the property to assume the mortgage completely, with your existing lenders approval. If neither of you want to keep the house they you need to sell it, since you are both legally responsible for the mortgage and are both legally owners of the home.

Feb 22nd 2011
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Akali Dennie (adennie)
#54 ranked lender in Florida - 196 contributions

The loan can be refinanced into only one borrowers name with the other person consent or you can sell. Mortgage Bankers of Florida is located in Miami and we would love to speak with you and explore your options. Call me direct please (954) 496-5351. Thank you.

Feb 22nd 2011
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Matt Baker NMLS#190779 (MattBaker)
#31 ranked lender in Arizona - 75 contributions

You can sell your house anytime you want. If you want to keep the house, that is fine, you just need the person that wants out to complete a quit claim deed, it probably needs to be run through the court documentation, as to whom gets the house. If you want to Refinance them off, that is a different story. You have to qualify on your own for the payments. There interest would be off the property when you quit claim deed is filed, but they would still be on the loan until you sell or refi the other party off

Feb 22nd 2011
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