In the midst of divorce and want to get a mortgage... Can I show signed settlement agreement for allocation of debts or does it have to be finalized through the court?

Unfortunately it has to be finalized with the court

Kristina, Great Question. The final, court approved decree is necessary for proof of allocation. Unfortunately, things could change between now and the time the judge approves the agreement, thus making the agreement in good faith, null until final. Find a local broker and explain your scenario. Get prepared based on your future income vs debts etc and as soon as it is final, get your pre-approval letter and go find yourself a house! All the best, Scott.

More of a legal question. Florida does not recognize legal separation. I believe if debts can be verified thru the credit reporting agencies, it should not count against you. What type of debt are you being relieved of?

I just had another customer go through this. Either a signed separation or divorce agreement by the judge will be sufficient. I am licensed in Fl. Feel free to call or email. Tom Dasta678-571-7433thomasdasta@live.comNmls 20830