Monday, January 16, 2012

What is the best way to handle buying a home when going through divorce?

My husband and I are divorcing. We cannot afford to have him move out and keep our current mortgage so are living together and won't file until the house sells. Because of this, I won't have the divorce decree when I apply for a pre-approval/mortgage loan. I work part-time now but will rely on alimony and child support as well. However this will not have been figured into my income when I apply for a loan. We will have the draft of the decree done, but it won't be "official" yet. So will a mortgage company still not consider that as my income because it's future and not current? I am very concerned that I won't be able to get a loan for myself because of my part-time income. I have flawless credit, which is the one positive thing. I know I can't be the only one to have gone through this. Can anyone give advice on how I can handle this so I'm not living in a box with my kid? Thanks.

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