In the beginning stages of a divorce, many couples make mistakes with regards to their mortgage that can ruin their ability to get another mortgage during or after the divorce. If you have decided a divorce or separation is happening, these are the things you need to do right away.
Talk with a Mortgage Consultant to see what options the both of you have. If one decides to keep the mortgage you need to have it refinanced to remove the other one from the legal liability.
You also have the option of selling if both of you want to be removed from the obligation. In most cases to make sure the mortgage is being paid on time have your attorney set up an account to assure no late payments.
Your credit is one of the most important things to show your ability to repay. One Mortgage payment can set you back months before you’re able to purchase something new.
If you have additional questions or something I can help you with please give me a call at 409-719-6986 512-761-6151 – Jenny Staton – Securitynational Mortgage Company