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Divorcing during a construction loan

  • Thread starter Thread starter timothyrobert
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T

timothyrobert

Guest
Phoenix, AZ.

I'm in the middle of a construction loan. Draws have been made for the lot and the permits but no ground has been broken. My wife wants to keep the loan going. I want my name off. Can this be stopped where it is and turn the draw amount into a conventional loan?
 


H

HomeGuru

Senior Member
No because it is 2 different types of loans.
Unless your wife wants to refinance so your name is off the loan and the title, I suggest you stop everything until the divorce is setled.
 
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