Could I short sale my house and have wife purchase new home under her name?

Could I short sale my house and have wife purchase new home under her name?
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1 Answer

Answer :

answer:If your wife is not on your current loan and can afford to, independent of your finances,qualify for and purchase another home that you quit claim any interest to then it’s possible she could buy a new home while you are short selling your current home. (Make darn sure your relationship is solid as a rock because if she is the sole title/mortgage holder the property is hers 100% in the event of a divorce.) If you would have to be on the loan in order to qualify, then the bad credit/short sell in your name will follow you to this new transaction and you will likely not qualify. Your best bet is to stay where you are and wait for market recovery to somewhat mitigate the up side down status of your home before you do anything. Getting out from under an upside down mortgage isn’t going to be easy and will be a pay now/pay later scenario. Better to stick with the devil you know.
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Last Answer : This answer was deleted by moderators

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