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Divorce rates throughout the country and in Texas are changing at a rapid pace. While the divorce rate seems to be decreasing, the Texas Department of State Health Services states that this may be because more couples are choosing to cohabitate rather than get married at all. For those who do divorce, there are seemingly a thousand details to handle in terms of custody, child support and property division. One thing that often weighs heavily on the mind of a divorcee is what happens to the mortgage after a divorce.

There are a few choices when it comes to splitting the family home after a divorce. You can choose to allow one spouse to remain in the home and refinance in that person’s name. Many couples finance their homes with both of their names on the mortgage, so a refinance would be necessary for the moving individual to be completely free of responsibility for the house.

If you opt to allow your ex to live in the family house and choose not to refinance, you could run into many problems down the road. For example, if your ex decides to stop paying the mortgage, you are still responsible for the payments even though you are not living there.

Another way to handle a mortgage is to sell the home and split the equity between both of you. This can be difficult emotionally, particularly when children are involved, but is often the best way to make a clean break from your marriage and home. The divorce decree will determine how the sale of the house is handled and how the equity should be divided up.

It is perfectly normal for couples and families to have an emotional reaction to selling a home. This is especially hard when children are involved and they have spent most of their lives in the family home. If you are looking for a clean break from your spouse, selling the home may be the best thing to do, no matter how hard it is.

This is for educational purposes and should not be interpreted as legal advice.