What happens to your mortgage in a divorce?

What happens to your mortgage in a divorce?

Marital Dissolution

by Tanya Moriarty

In a divorce you have a few choices as it relates to the mortgage on the marital home.
You and your spouse can decide to sell the home and pay it off with the proceeds, one spouse can remain in the home and refinance the mortgage and the take the others name off the mortgage, or in some instances the mortgage can be assumed by one of the spouses. This is pretty rare but sometimes is an option.