I retired from the military in 2001 and my exwife and i divorced that same year. We were married 20 of my 24 years in the military. The divorce states that my exwife would get a percentage of my Retirement. At the time of the divorce i agreed to receive my disability amount of my retirement and the rest would go into an account(this account we used when we were married) for my exwife to use. This agreement was not in the divorce but i want it to continue because my exwife and i are still good friends. My current wife and I are buying a house and the bank wants in writing how much goes to my exwife and where it goes to. I dont see why they need this info as long as i can make the morage payment. My question is this. Is there anything in the law that says i have to give the bank this information or is it covered under any privacy act?
State/Country relating to question: Pennsylvania
Thanks for the chance to help. I am an attorney with over 12 years military law experience.Its not covered in the privacy act. Once you apply for a loan, federal law requires you to fully disclose all your assets/income/liabilities. If you do not, your in violation of federal law.So yes, you have to provide this information.Sorry to have to bear bad news.
Retired Marine Corps Lawyer, Veterans Services Officer (VSO)
I have disclosed all my income, but they want something in writing that states what amount goes to my exwife and I told them the amount. I even gave them a copy of my retiree account statement and told them what amount i get and what amount my exwife gets, but because the statement does not specificlly say what amount goes to my exwife they wont accept it. I even called DFAS but they wont give me anything in writing.
Then give them a copy of the divorce decree...that will specify what she rates each month.
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