We are separated for 14 months (no legal agreement).
My wife is purchasing a townhome, BofA has said the only hindrance to her getting the mortgage is the fact that she is on our home mortgage and it is hurting her ratios.
They said they will honor a free trader agreement to not count that in her ratios.
What is the best way to do that?
Is just a free trader agreement between us sufficient?
If we do a legal separation agreement, can we do it just for this or does it have to encompass everything, and what free trader verbiage should we use? Can/should it be back-dated?
Her mortgage officer did not seem real sure as to what is required.