Legal Question in Family Law in California

my friend is getting a divorce. she and her husband have a mortgage of 350,000 and the home is appraised at 700,000. the husband is only seeking 150,000 buyout and will still pay child support. the problem is she can afford the payments for the home but she is have a difficult time trying to find refinancing because of low debt to income. she wants to stay in the home because of their child. even with the new mortgage at 500,000 she can afford the payments, but her debt to income doesn't meet with the requirements. any advice would help.


Asked on 4/16/12, 7:54 am

1 Answer from Attorneys

I'm afraid lender underwriting policies are not governed by any laws that would help your friend. There laws that apply to loan underwriting, but they are aimed at making sure banks do NOT loan when they shouldn't, not making banks loan when you think they should. So it's not a situation in which there is legal help for your friend.

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Answered on 4/16/12, 10:24 am


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