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Updated over 7 years ago on . Most recent reply

User Stats

14
Posts
5
Votes
Lynn Gormley
  • Investor
  • Boise, ID
5
Votes |
14
Posts

financing during a divorce questions

Lynn Gormley
  • Investor
  • Boise, ID
Posted

hello, new to BP and excited with everything there is to learn. I have a question regarding financing. Not looking for legal advice, but more looking for good financing advice. I am in the process of a divorce and plan on investing with some of the money from the sale of our home. The problem is the house may take awhile to sell, and I've just re-entered the workforce and my income earnings are pathetic. Would you suggest I try to qualify for financing while still married, (obviously I would agree and sign whatever that husband would not be responsible), or do you suggest that I wait until afterwards to avoid any legal/financial complications or wait and find a way to use OPM? I don't have anyone I know of to borrow money from, so it would be hard money, and I don't expect my income to go up much (why I plan on buying more rentals). I have one rental, paid in full, bringing in $1k, and my fico is 655, still working on getting a couple negatives off. It's hard to wait and not know how much money I can earn investing. Divorce won't be final until June 2018.

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