u/Both-Creme8726

I also posted this in /mortgages but have been following this sub for a while on my main account. Hoping some originating geniuses will have some bright ideas. :)

Some background and details:

- CH7 discharged in 8/23

- Divorce finalized in 1/24

- Credit is re-established and sitting in the high 600s currently. Playing with card balances for a month or two will bump into low 700s.

- Owelty Lien created in divorce with current outstanding balance of $185K that began accruing interest at 6% 3/26. Balloon note was due 3/26, ex is not being crazy about it, but it is driving me insane to have it hanging over my head.

I was able to remove ex from mortgage through a Release of Liability. It is held by a credit union and serviced by Cenlar (sp?)

Title and deed have been recorded in my name alone already.

I have never missed a payment and the loan was not reaffirmed in the bankruptcy.

Current rate is 3.875% and is a Home Equity Loan. Balance is $355K and originated in 2020.

I’ve lived here for 10 years.

Current home value is $1M-$1.1M

My business operates on the property in a separate building from the home.

I’m self employed and my tax returns do not reflect actual income due to deductions and write offs. The last few years have been a nightmare as you might gather, and business has taken a back seat to jumping through flaming hoops to survive.

I have tried to refinance with a few brokers and the credit union that holds the loan. The qualifications are possible with bank statement loans, but I really don’t want to kill that 3.875 rate to pay off the wayward ex. The fees are high and the rates are in the high sevens to low eights.

Texas home equity laws prohibit me from doing anything other than a full refinance. I have inquired about a rate and term reset at the CU, but they don’t seem to understand the perks of doing it for me. (Non reaffirmed so this would reconnect me to the debt personally)

Selling is an option, but it is nuclear. I would lose home and business, and need to start over at 45 with a new career after being self employed for 20 years. I could rent space and move the business, but with everything else that’s gone away, I’d just as soon start over at that point.

There is a child involved that goes to school based on my address and that is being challenged currently as well. I feel that there is a lot at stake here but maybe I’m being stupid.

I’m hoping someone out there has been through a similar situation that can give me some insight and guidance.

Some background and details:

- CH7 discharged in 8/23

- Divorce finalized in 1/24

- Credit is re-established and sitting in the high 600s currently. Playing with card balances for a month or two will bump into low 700s.

- Owelty Lien created in divorce with current outstanding balance of $185K that began accruing interest at 6% 3/26. Balloon note was due 3/26, ex is not being crazy about it, but it is driving me insane to have it hanging over my head.

I was able to remove ex from mortgage through a Release of Liability. It is held by a credit union and serviced by Cenlar (sp?)

Title and deed have been recorded in my name alone already.

I have never missed a payment and the loan was not reaffirmed in the bankruptcy.

Current rate is 3.875% and is a Home Equity Loan. Balance is $355K and originated in 2020.

I’ve lived here for 10 years.

Current home value is $1M-$1.1M

My business operates on the property in a separate building from the home.

I’m self employed and my tax returns do not reflect actual income due to deductions and write offs. The last few years have been a nightmare as you might gather, and business has taken a back seat to jumping through flaming hoops to survive.

I have tried to refinance with a few brokers and the credit union that holds the loan. The qualifications are possible with bank statement loans, but I really don’t want to kill that 3.875 rate to pay off the wayward ex. The fees are high and the rates are in the high sevens to low eights.

Texas home equity laws prohibit me from doing anything other than a full refinance. I have inquired about a rate and term reset at the CU, but they don’t seem to understand the perks of doing it for me. (Non reaffirmed so this would reconnect me to the debt personally)

Selling is an option, but it is nuclear. I would lose home and business, and need to start over at 45 with a new career after being self employed for 20 years. I could rent space and move the business, but with everything else that’s gone away, I’d just as soon start over at that point.

There is a child involved that goes to school based on my address and that is being challenged currently as well. I feel that there is a lot at stake here but maybe I’m being stupid.

I’m hoping someone out there has been through a similar situation that can give me some insight and guidance.