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Can I get a loan based on money in escrow?
I'm in process of divorce. The house sold and has settled. The property settlement agreement has not been executed yet and it may take a while to do this as the parties are pretty far apart on the terms. I live in chester county, pa. Is it possible to get a loan based on what is in escrow?
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No, since you have no proof of how much is going to be yours. If you end up only getting 10 percent or nothing, then there is nothing to base the loan on.
The same reason you can not get the money, ( no agreement) is the same reason you can not use this money to get a loan. I will add that of course you can try, but they will want you to show how much of the money is yours or get the other party on the escrow to sign with you. ( and we all know that would not happen) |
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