automansgirl
Mar 14, 2007, 12:17 PM
Okay, so my husband and I are in a huge pickle! I'll try to make this as short as possible... My husband still owns a house with his ex-wife. They are selling it through a relocation company due to he and I moving out of state. The problem is that we are responsible for the second mortgage, the house is in a really bad part of town and has depreciated in value, and we have to come up with the difference. The difference is a little less than $20k. We were trying to buy a house where we live now so we could refinance for the diff. Problem is that my husband had to file bk and we have late payments on our credit. The bk was over 2 years ago, and we have been working to correct and improve our credit. Unfortunately we still have a couple of late pays on our credit within the last year, so we can't get the financing for the loan. Now I'm afraid that we won't be able to come up with the money. My hubby makes good money and his debt to income ratio is excellent, but because of the few minor marks still on our credit we can't get the loan, and don't know what other options we have. If anyone could help I would greatly appreciate it. Thanks so much in advance.