Legal Question in Real Estate Law in Maryland
Apartment application denied because of mortgage
Can an apartment complex deny renting my soon to be estranged husband simply because he's listed on the mortgage to our house? He's the one that's going to leave initially, and then we're going to sell the house and settle the debts. We just refinanced the mortgage to get a lower rate and to consolidate our bills, so the only monthly payment is the mortgage. He (we) has never been late on a payment and has great credit because of that. He finally found a place he can afford, but was told he was denied because of this mortgage. I'm not going to take him off of it, because he is responsible for half, but can the apartments do that? What about people that have car payments that are higher than our mortgage (which is entirely possible)?
Please help, I need for him to move out so we can get on with our lives!
Thank you.
2 Answers from Attorneys
Re: Apartment application denied because of mortgage
The apartment complex recognizes your husband's mortgage obligation and sees him as a financial risk for paying the rent on top of that. There is nothing that requires a potential creditor to accept a risk it deems excessive. Perhaps he can find another leasing company that has less stringent guidelines. Or you may have to advance your plans to sell the house so that he won't have the mortgage on his record when he applies for credit.
Re: Apartment application denied because of mortgage
The lessor has every right to minimize the risk of non-payment
and avoid the costs of eviction. Your reluctance to cut your husband
loose from the mortgage is tantamount to the same risk reduction practice
of his prospective lessors. Maybe he should seek a rental unit on a
month to month basis where he is required to pay one month of security deposit
and pay each month in advance, thus giving the lessor the security it seeks.
Or, alternatively you may need to release him from the mortgage.
Divorce is a costly process. None of us believed that two could live
cheaper than one when we started out but when the marriage is dissolving the economy of scale
becomes ever so clear and becomes an obstacle to each going separate ways.
DISCLAIMER: NOTHING IN THIS CORRESPONDENCE IS LEGAL ADVICE. WHEN CONFRONTED WITH A
LEGAL ISSUE, CONTACT A LAWYER FOR ADVICE SPECIFIC TO YOUR CASE.
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