Can I purchased a home using my soon to be ex-husband’s salary to qualify for the loan but yet have him relinquish all rights to it?

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Can I purchased a home using my soon to be ex-husband’s salary to qualify for the loan but yet have him relinquish all rights to it?

Asked on December 28, 2011 under Family Law, Michigan

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Ultimately, no. You cannot use the salary of someone else to purchase a home because even if you placed that on the application, he would need to sign waivers and disclosures and documents allowing the underwriters and processors to obtain verification of the employment, amount of salary and other factors like bank account daily or average balances. Further, even if you were to attempt to sign for him, you could be held criminally liable for identity theft. You can certainly attempt to negotiate a home during the divorce proceedings but again, a mortgage loan placed in your husband's name alone and the title in your name will rarely happen without accelerating the debt and causing a possible foreclosure on the house if he doesn't pay. Quitclaiming a home can cause acceleration of debt and you will end up having to refinance the home into your name only. If your alimony is high enough, you might be able to use that as your income on mortgage loan applications.


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