Refi now and again in 6 months

3 Replies


I have a client who is going through a divorce. His ex wife lives in their marital home and wants to refinance the home right now because she can't afford the mortgage. He wants to wait 6 months so that he can buy her out. Just wondering if you guys think a bank would be willing to refi now and then again in 6 months? Because I don't think that idea tracks. They should just wait 6 months so he can buy her out. Right? Or am I just being overzealous for my client? Any thoughts? I'm not a mortgage broker, and I'm a fairly new to real estate so any feedback would be greatly appreciated.

@Andrew Domingues ...the idea doesn't track.  How amicable are they?   And because it's unclear, who's keeping the house?  It sounds like her from the question, but I wanted to confirm.  My answer is written per her keeping the house.

That's where I would start - amicability.  If he's still going to make the mortgage payments for the next 6 months until he buys her out and gives her enough money I'm assuming to be able to some how qualify for the refinance, or some other purchase, then I'd tell her to wait.

The main thing is if she can't afford the mortgage now, how is she going to qualify in 6 months from now?  That must be one helluva settlement.


@Jared Rine Yes, she is the one who wants to keep the house, but she can't afford it. He wants to buy her out so he can get the house. Hard to be amicable in a divorce.  But here's the thing though - she got preapproved today for the refi. He wants to wait. She's telling him that she can refi now and then again in 6 months. What I want to know is, how likely is it that a bank would be willing to refi again in 6 months?