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Updated about 5 years ago on . Most recent reply

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10 Year Old Paperwork? Is Underwriter being unfair?

Elizabeth Savage
Posted

I am refinancing a home - decree & recorded warranty deed have been provided (both document the home in question to me). I was divorced 10 years ago.  Within the property division there is a one time payment to him, decree indicates he gets check when I get warranty deeds.  Since the check is now 10 years old, bank keeps 7 yrs of records, I cannot figure out a way to meet this request.  Money was paid.  Additionally, the State of Texas has a 2 year statue of limitations, if he wasn't paid, and he wanted to sue me now, he couldn't.  We have no alimony, child support or maintenance agreement.

I have reviewed HUD 4000.1. I see that you have to document 2/3 months of debts and income...but cannot find anywhere that indicates that something from 10 yrs ago could be requested. I refinanced the other home and this never came up then.... is the underwriter being unreasonable? Where is it documented that this historic payment could be requested?

Most Popular Reply

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Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
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Kathy Henley
  • Rental Property Investor
  • St. Louis, MO
Replied

Bummer @Elizabeth Savage. Could you ex-husband sign a Satisfaction of Judgement that he was paid the amount specified in the marital settlement?  
Could your ex-husband sign an Affidavit saying that he has no marital interest in the ownership of the home?

The bank wants to get it right, help them. They love paper, especially if it is notarized.

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