Fannie Mae – Divorced Obligation on Previous Property: Do I need to count any financial obligation when the applicant is on the deed of a marital property, yet the financial responsibility was assigned to the ex-spouse by the divorce decree? [Includes Divorced Borrower Chart]

Answer: My educated opinion:  The divorce decree is the governing document here, if it indicates that she is not responsible for taxes, insurance and so on for the prior marital residence. Therefore, you should be able to exclude those obligations without any further documentation.  If your lender or underwriter is requiring proof or documentation for […]

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