Breaking Up A Mortgage ­ Selling Your House Fast After A Divorce

One of the biggest decisions a divorcing couple needs to make is if they are going to sell their house. If they do decide to sell their house, one of the things they will need to do is sort out the mortgage.

Divorcing couples usually have a mortgage together, so if only one spouse wants to have their name on it, they will need to sort the mortgage out. This way the person who remains in the house doesn’t need to depend on their ex spouse for the mortgage.


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The spouse who gets their name removed from the mortgage will also benefit from breaking up the mortgage. They will be able to borrow more money for a new home because their name isn’t on the mortgage of the house the married couple once shared together. Another benefit to removing one person’s name from the mortgage is that this might help break any links that tie the married couple’s credit together, because it will remove joint­ debt. Joint debt causes one partner’s debt to affect the other partner’s credit.

There are other factors involved that need to be considered when a couple wants to sell their home fast after divorce, such as the income requirements that are involved with keeping the home. For example, if there is a remaining mortgage on the home, if the home is older and in need of repairs, and if there are taxes and insurance, then the income requirements are high. All of these factors need to be taken into consideration when a divorcing couple is determining the income requirements to keep the house instead of selling it.

If the income requirements are high to keep the house, then the option of selling your house in divorce becomes an easier decision because neither spouse can afford to maintain the home by themselves.

However, there are situations when one partner does want to own the home independently. If this is the situation, you should talk to a mortgage lender so that you can find out from them exactly what you are able to afford. If you think it will be difficult to afford the house independently, you should look into getting a “Guarantor Mortgage”. A guarantor mortgage is where a relative makes an agreement to pay the mortgage if you’re not able to.

Sometimes a divorcing couple isn’t able to break up the mortgage because they’re unable to come to an agreement. 123soldfast understands how difficult these situations can be and wants to help people suffering from a divorce move on with their lives so that a divorcing couple doesn’t need to postpone their future with some of the endless negotiations that need to be involved with traditional home sales.

If you would like a free quote on your house, call 713-322-3861 and we’ll tell you how we can help.