Legal Question in Real Estate Law in Indiana

My husband's job relocates him every few years. He receive a reloc. package with more benefits to purchasing a new home than renting. The catch is that the purchase must be for a primary residence. I, on the other hand, have lived in the same city for 43 yrs. I have never lived with my husband. How can I obtain a mortgage for a home? Why does my husband's house as a primary residence effect my purchase? I am not on his mortgage, nor would he be on mine. I do not have the qualify for a conventional loan- 10% down and a credit score of 720+. I am having a difficult time understanding why I can't get an FHA loan. I am sure in this day and time that others are in similar situations. Pleae advise!


Asked on 7/13/12, 4:30 pm

1 Answer from Attorneys
Kenneth Wilk Rubino Ruman Crosmer & Polen

You have more questions than can be properly answered in this small space. However, your basic problem is that your husband's relocation benefit requirements do not correlate with mortgage requirements and there is no easy way to solve that. Make an appointment with your local banker to see if there are some options which might be available to you outside of the conventional products.

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Answered on 7/16/12, 4:53 pm


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