I have been turned down, am I asking for the wrong thing? (appraisal, mortgage)

[Nashvilleuproar]

I am a homeowner in the middle of divorce, and have been given the ok to refinance the home and split the equity as part of our settlement. I have been turned down by bank when asking to refinance loan due to appraisal saying my house is "unliveable", and bank insisting on repairs being done prior to refi.
Anyone know what I can do to obtain the bank funding needed to "purchase" my own house to change from our joint property status to my individual ownership without major updates to property? (Divorce includes 50/50 split in equity)

Thanks

[rjrcm]

Suggest you also ask this question in the mortgage forum. My only suggestion is to check with other lenders.

[DMenscha]

you might try an FHA 203K rehab loan if your property is in need of repairs.

[Silverfall]

What makes your house unlivable? What kinds of repairs need to be done?

[Nashvilleuproar]

General maintenance neglect. Appraisal concerns about roof, paint throughout, and floor covering.

[Silverfall]

Then I agree with DMen that you will need to see if you can refinance into an FHA rehab loan. Even conventional loans require a good roof.

I know there is a conventional loan product called a renovation loan.

[california-jewel]

Dang i heard of AS IS HOMES, needs improvements, but UNLIVABLE, what exactly does that mean!

[Brandon Hoffman]

Unlivable could be anything from holes in walls or floor to missing appliances, bad roof, foundation issues...they need to ask the the appraiser or bank.

[Sergio M]

See if you can get a home equity loan.