How does it work in a court with the refinance of a marital property?
Can a secondary home appraisal be held up in court after the bank already did their appraisal for an FHA loan refinance?
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Yes, the court can hold things up in that case. The motion would need to be addressed before the bank can approve the refinance.
With a refinance in general, the court usually is not involved, as the lender handles the paperwork. However, since your ex has filed a motion, this can cause delays.
That motion would need to be heard and resolved because the home’s value — and how the equity is distributed — is considered essential to finalizing the refinance.
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How does it work in a court with a refinance of a marital property?
Lexi, Chatbot
I understand this can be a complex situation. Have you and your spouse already agreed on the terms of the refinance?
Yes.
Lexi, Chatbot
Are there any specific concerns or issues related to the refinance of the marital property that you would like the family lawyer to address?
The equity distribution.
Lexi, Chatbot
Is there anything else the family lawyer should know before I connect you? Rest assured they’ll be able to help with equity distribution.
Yes.
Elizabeth
Hi there! Welcome to AskALawyer. My name is Liz, and I’ve been an attorney for more than a decade. I’m here to assist with your concerns.
So I can best help, is a divorce currently pending?
No, the divorce settlement has been issued already.
Elizabeth
Thank you for clarifying. How can I assist with the refinance?
Can a secondary home appraisal be held up in court after the bank already did their appraisal for an FHA loan refinance?
Elizabeth
Apologies — technically, anything can be held up in court. But how is the court involved in this situation?
The ex-spouse filed a motion because her independent appraisal was slightly higher.
Elizabeth
Yes, the court can hold things up in that case. The motion would need to be addressed before the bank can approve the refinance.
With a refinance in general, the court usually is not involved, as the lender handles the paperwork. However, since your ex has filed a motion, this can cause delays.
That motion would need to be heard and resolved because the home’s value — and how the equity is distributed — is considered essential to finalizing the refinance.
Elizabeth
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