Cheap Divorce Lawyers In Nyc
I applyed for a loan to buy a nj condo. All of a sudden my broker emails me and asks me about my martial ?
status and if this going to be my 2nd home. one i should be divorced in 2 months and im going to marry my partner whos putting down half of the condo’s price. my rs lawyer said we would put in contract if one of us dies the other gets it. Now what should i say this is our second home or primary home. the truth its going to be our investment property/vacation home. I want to answer in away it will gives us the lowest insurance and interest. Another thought we want to stay in our rent stablized place in nyc cause its closer and cheaper to get to our jobs. help here in nyc.
This is a common request of underwriters and the fact that you are married has showed up on your credit report.
Depending on the laws in your state, if you are legally married at the time you are closing on the condo, without a separation agreement, you MAY NOT BE ABLE TO LEGALLY close on the home without your legal spouse being there to sign the docs and quit claim their name back off the title.
I am in NC, and that is what we do here and if NJ is a community property state, you’ll have to do the same there.
If it’s a community property state, then the lender won’t permit you to cut your spouse out of the deal…she would have to show up and waive her interest in the property.
Your state also may have a waiting period of when you can remarry…most states have this. You get your divorce, but it’s not “final” until a certain period of time has passed…and you cannot get remarried during that time or else you will be guity of bigamy.
Also, you need to know if the lender thinks you are occupying the property, and you are really using it for an investment property, that is called OCCUPANCY fraud, and that is a FELONY.
Banks are ON TOP of this common scam right now and there are tons of checks being done and entire departments dedicated to auditing files for this….it also renders your homeowner’s insurance worthless in the even of a total loss b/c no insurance company in the USA will issue anything but a fire policy on an investment property…full coverage, is not available on investment property.
You are getting ready to get yourself into serious, serious trouble
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