How To Refinance and Remove Ex From The Loan

Hi, I'm Jason Pitarra and I'm here to share a little bit of information and challenges that we've been able to help customers overcome to get into their dream home.

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We recently actually had a client that found us on the Find My Way Home network. They were currently in the process of trying to find a lender that would help them refinance their VA Loan.

They had reached out to their current lender that was servicing the loan. They had no responses, they weren't getting back to them, they weren't telling them if they could even get financing again to redo the loan.

This particular client had actually gone through a very nasty, nasty divorce. They were skeptical if they could even refinance a loan and take advantage of low interest rates, but more importantly, take the ex off of the original note, which was part of the agreement. 

Generally speaking, most of our industry unfortunately is not staffed to handle complicated loans today. If it's harder than normal, they'll kind of put it aside and say, "Hey, I have easier loans to grab," and that's unfortunate for the families looking for help.

One of the solutions I found is building a strong team around myself of experienced, licensed loan partners that can help me spend the extra time with customers that just don't fit the box: they're a little more complicated, it's gonna take a little more time, versus passing on the loan that others may do because it is a little more challenging.

In this particular case, VA does not disqualify borrowers for a new VA loan just because they had a blemish on the credit report or mortgage late, which in this situation was not even because of the borrowers due to the ex not making his part of the payment and was just being vindictive.

Because of my experienced teams, we went in and found the rules on what VA will allow what they wouldn't allow, presented this to our via underwriters and got approval to redo this loan for our borrower.

Luckily our client reached out to us. They were so excited to move into a new house or finally get the home loan in their own name and move forward in life and separate one of the last pieces that tied them to the ex-spouse because they talk to us. 

If this sounds like a story, you've had a life situation that has caused some credit blemishes, maybe a mortgage late, talk to an expert like my team, even if you're close, we'll run a simulator.

See if we can give you any ideas on boosting your credit score. So if you have any questions about any of these topics or you need an expert opinion, click on the link below, reach out to myself and my team. I can help anywhere in the state of Texas.