Legal Question in Real Estate Law in Indiana

Re: Mortgage Funds

There could be many reasons, all of them speculative unless you ask your loan officer. Depending upon whose name the real estate is in, the length of the marriage, whether a dissolution or divorce is pending (or was filed and dismissed recently), the spouse does not have a good credit record and/or a very short work history, if she is pregnant and will soon stop working, or possibly if it looks like she only got a job to show more income for the purpose of a mortgage but does not plan to continue the job. There could be so many reasons, valid or not, but the lender should be able to point out why. If it is a matter that the wife is not a co-owner of the real estate and will not be liable on the mortgage, that can easily be remedied with a quit claim deed from yourself to yourself and your wife. If your wife within the past 6 years has filed a bankruptcy and discharged a mortgage, that usually has an adverse effect on a mortgage company wanting to rely on that income. Until the loan officer gives you a specific answer, none of us will know exactly why.