All, i got divorced last year and applied for assumption immediately to preserve my low rate conventional mortgage as my bank( chase) said they need divorce decree to start the application. Its been 9 months and so far , its going back and forth with recent month copies of same documents being asked by chase . Also they said they may be closing costs of upto 15k while closing. The court has primary home on ny name in divorce settlement but did not get my ex to sign any quit claim deed. I have 400k loan left on the mortgage Questions :
- is there anything I can do before assumption is approved ? Like getting my ex to sign quit claim
- is 15k closing costs normal on 400k loan?
- if those closing costs are normal, are they other ways I can get this done without paying 15k . I dont have that much cash sitting and I would rather use it on my kids than paying a bank. Advice please
u/Business-Pepper-5421 — 13 days ago