WHAT??? You No Longer Own The House But You Still Owe The Debt.

Real Estate Agent with Better Homes and Gardens Rand Realty

I am not a lawyer and can not offer legal advise to you but I can offer practical knowledge about a common misconception about "turning the house over" to your ex spouse. Over the course of my 15 year career as a Realtor I have seen far too many people who believe that signing a quit claim deed over to your ex will relieve you of the obligation you have to pay the mortgage.  As you walk away from the house don't forget to have your ex refinance in their own name or you are in for a big surprise down the road.

The problem will become evident if you try to buy another home and apply for a mortgage. It will show up on your credit report as outstanding debt or worse, if the ex stopped paying the mortgage, you will have collections after you. This a a serious consideration to speak with your divorce attorney about.

I am here to help with any real estate related questions you may have on this or any other subject.







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