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Updated over 1 year ago on . Most recent reply

User Stats

33
Posts
23
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Abe Rouz
  • New to Real Estate
  • California
23
Votes |
33
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Just closed on FHA loan, need advice!

Abe Rouz
  • New to Real Estate
  • California
Posted

Hi, my fiance and I closed on a house, both of us are on the deed, however I was the only one able to qualify for an FHA mortgage. We both brought half the downpayment + closing cost. My question is, what are some things to be aware of if god forbid things dont workout? as in protecting myself in this circumstances? what are some things to think about or be prepared for? I appreciate the guidance. The properties in California

Most Popular Reply

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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
9,513
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Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied

Yup. You would hope the house is sold and you split the proceeds. But it’s California. She may be “accustom” to living in that house and it could be your job to keep her in it. You could try bringing up a prenup about the house. That way she can get mad and storm off, future problem solved. 

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