divorce and refinance

[jenjen]

state of florida


just divorced and have to refinance home to take out x's share of equity.

questions:

1. how is this done with both our names on the first mortgage?

2. does the person being broughtout have to quick claim the deed before the other can refinance?

3. should i tell the lender that i'm trying to refinance due to a divorce?

4. what type of appraisal is the best, most detailed to get the homes true value?

[MixedBag]

When you apply for the refinancing, tell them why and all the paperwork gets done on the same day at the time of closing.  That way they take the proper debts into consideration for your debt to income ratio to approve the loan.

I was just in this boat -- or atleast very similar, my EX knew I wouldn't sign the quit claim deed unless my money was also sitting there in a certified check to buy out my interest in our joint property.

It was all done on the same day.

Type of appraisal?  Didn't know there were differences.  Follow the lender's requirements.