Cindy is a recently divorced woman that was looking for a Sun Prairie WI refinance. Cindy divorced roughly 2 months ago and she was awarded the home in the divorce settlement. She was required to pay her husband his share of the equity in the home. Just wanting to move past the divorce, Cindy contacted Sun Prairie.Wi-mortgage.com. They had been married for about 15 years and had not refinanced since they purchased the home. The current interest rate was at 7.5% and had built enough equity to provide the $25,000 awarded to the ex-husband.
Cindy’s goals were easy to identify. She wanted to pay-off the ex-husband with this Sun Prairie WI refinance and also lower her payments because there was only one income at this point. It was imperative to her to get the former husband’s name off the title of the home and just wanted to lower her Sun Prairie WI refinance mortgage interest rate.
There was a lot of equity in the home and Cindy also had very good credit. She had her same job for the entire marriage and had also accumulated a very nice 401K reserve account. She would also be receiving child support payments but it was not necessary to utilize these payments for approving this loan.
We successfully closed on this Sun Prairie WI refinance mortgage in only 15 days! Cindy’s former husband received the $25,000 he was entitled to and was removed from the property title. Additionally, we were able to actually lower her payment and extended the term to 20 years! It was a “win-win” for both parties. She got a lower payment on her Sun Prairie WI refinance mortgage and his name off the property title, while the former husband received the money he was owed.
The key was to get all of the pertinent documents for her Sun Prairie WI FHA refinance such as: 30 days of pay stubs, the last two years of income taxes, their current mortgage statement, their property tax bill, their home owner’s insurance declarations page, 3 months of bank statements, their retirement account quarterly statement, bankruptcy paperwork, child support documentation, and the closing paperwork from their current Sun Prairie WI refinance mortgage. We needed all the documents so we could answer any and all questions from the underwriter. The file was large and thorough but it was necessary. The underwriter may have declined it if it were not complete. That was the key to this Sun Prairie WI refinance.
If you are ready to purchase Sun Prairie, WI home or need Sun Prairie WI refinance please call me at 855-712-3113 or apply on this site!