ross
New Member
Posts: 7 
|
Post by ross on Apr 8, 2016 15:53:55 GMT
Only husband will be on FHA mortgage. The home that they currently live in they could not qualify for so the mortgage is in wife's parents name. Wife is on title with them. Are planning to sell and should realize about $60,000 from the sale. As this is the wife's money can it just go into a joint account and get a 100% letter giving him access?
|
|
|
|
Post by Terrence on Apr 8, 2016 15:57:28 GMT
Yes, Since she has an ownership interest in the property she will be able those those funds. We will need a copy of the fully executed CD to prove the source of funds.
|
|
ross
New Member
Posts: 7
|
Post by ross on Apr 8, 2016 17:42:26 GMT
But she is not going to be on the new mortgage. Can these be used as resereves?
|
|
|
|
Post by Terrence on Apr 8, 2016 20:12:49 GMT
Yes since they are husabnd and wife he can have full access to those funds as well. Same as if the wife receives her paystub into a joint account. We can use that as well..
|
|
