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recently divorced but credit still ok can i get approvel?

the divorce itself was clean. i will pay a small alimony and it will not affect my finances badly, but i was told it could hurt me getting a mortgage anyway? by brielklein7854642 from Arlington, Georgia. Nov 7th 2014 Reply


Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#29 ranked lender in New York - 2,236 contributions

Did you have a home ? Did your ex get the house? The alimony will add to your debt to income but other than that shouldn't affect your home purchase.

Nov 7th 2014
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Jamie Lynne (nationwidelenderforyou)
#142 ranked lender in Texas - 575 contributions

As long as the alimony does not push your debt to income ratio and you pay it on time, there really should not effect you getting a mortgage as long as you meet the credit, income, assets, employment etc. Let's discuss your loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I have been lending nationwide since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - www.bartprequalifies.com - email Jamie@bartprequalifies.com - 800 315 8803

Nov 7th 2014
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Yes. As long as you can still income qualify for the new loan. I would be happy to take a look at it for you. Local Atlanta lender. Briggs Cline 404-303-7411

Nov 7th 2014
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Melissa Stutes (MelissaStutes)
#28 ranked lender in Hawaii - 97 contributions

As long as you income and credit qualify, with the alimony payment included in your monthly debt, you will be fine.

Nov 8th 2014
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

Melissa and all the others are correct.

Nov 8th 2014
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Kim Jones (KimJonesHomeLoans)
#74 ranked lender in Georgia - 21 contributions

No, despite most divorce situations, many can still successfully get a mortgage. By providing me with the most accurate and true picture of your circumstances -- starting with the loan application -- you're helping me to find the best way to structure your loan for a favorable credit decision. I will also look at your divorce decree for any other undisclosed/non-credit report financial obligations such as child support, alimony/spousal support paid or received. If you receive income in the form of child support or alimony: This income can be used for qualifying for the mortgage, so long as there is a six-month history and the income is poised to continue for the next three years, determined by child support or an alimony agreement detailing the terms of the obligation for the party paying the debt. If you pay alimony or child support: This reduce your borrowing ability as debts reduce income, and income is needed to offset a mortgage payment. If you own a house and are on a mortgage with an ex-spouse: As long as the divorce decree awards the other party with the home, and the other party is willing to provide supporting evidence that they make the mortgage payments on that home -- by providing 12 months of bank statements and/or canceled checks -- the total mortgage payment on that home can be omitted from the decision-making process on your new mortgage, which can improve your ability to qualify. If you and your ex make the mortgage payment from the same joint bank account and the divorce decree awarded the other party with the property: You are both 50-50 responsible because the money is "co-mingled" funds from the same place to pay the obligation. There is no way to support your position that one person is responsible for making the payment because it's coming from a joint account. If the ex-spouse is responsible for making the mortgage that you are also on: Explore the possibility of having the ex-spouse refinance you off the mortgage obligation. If your ex-spouse is refinancing you off a mortgage loan: A final closing statement called an HUD could be required by the lender you're working with for procuring your loan to omit the payment from the other house. If you have a joint consumer credit such as credit cards, installment loans, auto loans or even student loans: Unless you can prove the other party is for responsible for the credit obligation (with 12 months of canceled checks or bank statements), those liabilities will be factored into your ability to qualify. I'd love to help you....let me know if I can.Warm regards,Kim Jones-ZweigSenior Mortgage BankerFidelity Bank Mortgage3490 Piedmont Road, Suite 750Atlanta, GA 30305p: 678.468.4046 | f: 678.829.0612e: kim.jones@lionbank.comw: www.kimdjones.comNMLS# 545217

Nov 9th 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

Bottom line, it depends on the details of your situation. Simply because you pay alimony does not disqualify you, think of that payment as the same as a car loan for the same amount.

Nov 9th 2014
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