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Old 10-06-2007, 03:13 PM
 
Location: Dallas, Texas
3,589 posts, read 4,148,839 times
Reputation: 533

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My bf's wife wants to keep the house after they divorce.

She has not worked in 8 years and has not even started looking for a job yet; if she does get one she'll probably make between $30-$40k.

They owe $171k on their mortgage but could probably sell for $210-$220, meaning they'd get their down payment back and possibly a tiny profit. That would be split 50/50 according to the x2b.

She wants to get a mortgage for this house in her own name. I'm thinking there's no way she could do that with her income potential and work history. What do you guys think?

 
Old 10-06-2007, 04:14 PM
 
108 posts, read 399,602 times
Reputation: 32
Quote:
Originally Posted by nativeDallasite View Post
My bf's wife wants to keep the house after they divorce.

She has not worked in 8 years and has not even started looking for a job yet; if she does get one she'll probably make between $30-$40k.

They owe $171k on their mortgage but could probably sell for $210-$220, meaning they'd get their down payment back and possibly a tiny profit. That would be split 50/50 according to the x2b.

She wants to get a mortgage for this house in her own name. I'm thinking there's no way she could do that with her income potential and work history. What do you guys think?
Your bf's wife? out of curiosity... why are they divorcing? Do they have kids?
 
Old 10-06-2007, 04:22 PM
 
Location: southern california
61,288 posts, read 87,420,711 times
Reputation: 55562
Quote:
Originally Posted by nativeDallasite View Post
My bf's wife wants to keep the house after they divorce.

She has not worked in 8 years and has not even started looking for a job yet; if she does get one she'll probably make between $30-$40k.

They owe $171k on their mortgage but could probably sell for $210-$220, meaning they'd get their down payment back and possibly a tiny profit. That would be split 50/50 according to the x2b.

She wants to get a mortgage for this house in her own name. I'm thinking there's no way she could do that with her income potential and work history. What do you guys think?
i am confused. the guy you are dating has got a wife and he is your boyfriend and is thinking about a divorce?
and you are helping?
clear the runway. incoming. i see a crash comin my way.
back away back away. when all that is over come on back.
best wishes
stephen s
san diego ca
 
Old 10-06-2007, 04:37 PM
 
Location: Dallas, Texas
3,589 posts, read 4,148,839 times
Reputation: 533
Quote:
Originally Posted by momandwifefromcali View Post
Your bf's wife? out of curiosity... why are they divorcing? Do they have kids?
That's private but he had already moved out when we met, so I'm not a homewrecker if that's what you're implying.

And yes, they do have kids.
 
Old 10-06-2007, 04:38 PM
 
Location: Dallas, Texas
3,589 posts, read 4,148,839 times
Reputation: 533
Quote:
Originally Posted by Bunky39 View Post
i am confused. the guy you are dating has got a wife and he is your boyfriend and is thinking about a divorce?
and you are helping?
clear the runway. incoming. i see a crash comin my way.
back away back away. when all that is over come on back.
best wishes
stephen s
san diego ca
I'd appreciate it if you're not going to answer my question you keep editorial comments about my relationship to yourself.
 
Old 10-06-2007, 04:41 PM
 
Location: southern california
61,288 posts, read 87,420,711 times
Reputation: 55562
Quote:
Originally Posted by nativeDallasite View Post
I'd appreciate it if you're not going to answer my question you keep editorial comments about my relationship to yourself.
did you red dot everyone that asked this question or just me?
stephen s
san diego ca
 
Old 10-06-2007, 05:01 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 16,588,833 times
Reputation: 1009
with FHA and some loans you only need 30days on the job....
 
Old 10-06-2007, 05:44 PM
 
Location: Dallas, Texas
3,589 posts, read 4,148,839 times
Reputation: 533
Quote:
Originally Posted by banker0679 View Post
with FHA and some loans you only need 30days on the job....
Isn't there an upper limit on the size of an FHA loan though?
 
Old 10-06-2007, 05:56 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 16,588,833 times
Reputation: 1009
most counties it's 200k......in large metro areas it's 362k


FHA | Mortgages | Loans | Secure Programs | Loan Limits | Guidelines

go to the bottom, and check the county.
 
Old 10-06-2007, 08:25 PM
 
203 posts, read 927,697 times
Reputation: 143
Unless she has a hidden source of wealth somewhere...........I'd say that's a big NO!.................they should sell for a profit and split it 50/50.............but you already knew that, right?

..........and let's be fair.............most marriages are over long before any papers are signed
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