How to refinance home and get ex’s equity?
Wednesday, July 15th, 2009
Prego asked:
Divorced, got a court order to refinance and pay the ex 50 percent of the equity. Bank will only finance 85 percent of the Original loan, and don’t require appraisal. Mortgage owed 104,000, bought for 111,000. Bank will refinance amount owed plus all closing but no more. Cant cash out VA loan. How do I get his supposed equity? County assessor says its worth 125,000. What do I do?
Vera
Divorced, got a court order to refinance and pay the ex 50 percent of the equity. Bank will only finance 85 percent of the Original loan, and don’t require appraisal. Mortgage owed 104,000, bought for 111,000. Bank will refinance amount owed plus all closing but no more. Cant cash out VA loan. How do I get his supposed equity? County assessor says its worth 125,000. What do I do?
Vera