Divorcing: who gets the mortgage? - 12/01/07 10:30 AM
With many areas around the country still experiencing property values in a downward direction, a new problem is emerging: who gets the mortgage when a couple is divorcing? A must-read article appeared in today's Washington Post discussing this growing problem with not a lot of solutions in sight. It's actually causing some couples to re-think their divorce plans! What many others are finding is that with values going down and rates going up, where two had qualified before, the remaining soon-to-be-ex-spouse is not able to qualify to carry the note alone. Most mortgage companies are refusing to remove or release liability … (5 comments)