Breaking Up The Mortgage After Divorce

The slow housing market and tight lending requirements represent a major obstacle for couples who want to untie the knot these days. Before the market crashed, divorcing couples could easily sell their homes, split the equity and purchase other homes for themselves. But times have changed.

bills and statements

Usually, the mortgage is the biggest liability the couple has to split. And divorcing your mortgage isn’t easy.

In the eyes of the mortgage lender, you remain married and liable for the mortgage unless you sell the house or refinance. For those who can’t do either, there are options that should be explored carefully.

Click here to continue reading this article by Polyana da Costa from bankrate.com.
da Costa, Polyana. (2012). Breaking up the mortgage after divorce. Bankrate.com. Retrieved on November 14, 2013, from http://www.bankrate.com/finance/mortgages/breaking-mortgage-divorce-1.aspx#ixzz2lE4GbDGJ

Article Writen by: Divorce Without War November 14th, 2013

Posted In: Assets, Divorce

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