Getting Something Off Credit Report...
Got a scenario I am trying to figure out. I have people who are wanting badly to get out of their home and will do a Lease/option no problem. They are interested in getting another home and I have hooked them up with a great broker/lender. The only issue is that on the lady's credit, there still shows that she is paying her mortgage from a divorce a long time ago, but she isn't. Her previous husband even agrees that she isn't but doesn't know how to get it off the report.
Any ideas on how to officially get the agency or lender to understand that she is not responsible anymore and get her name off the lender's report and the credit report.
Thanks
[addsig]
Your lady friend should have a divorce decree which states that although she is not released from the loan (no judge can rule on that), her ex-husband is actually responsible for making the payments. I would suggest that she contact not only a nice guy/gal broker but an experienced one. This one is a no-brainer and I don't understand why this is even an issue. I personally had the same issue myself (although with good credit) and upon presenting the divorce decree and a signed affidavit that I was not making the mortgage payments on the other property, my bank was okay with that. Banks realize that marriages are not longer the sacred institution they once were and people get a divorce at the rate of over 50% of the time so they will approve a transaction like the one I outline before. Go back to the broker and tell him/her to shape up and provide good advice to his/her clients. Good luck!
Thanks,
Talked with them and they do have the decree and I had them have the ex sign papers saying she's not responsible, and called the lender/broker to which they understood and agreed.
Appreciate the help,
The Solutions Kid
[addsig]