You’re not going to be able to get another home loan if you’re still on the other mortgage. Or it will be very difficult. I get why you’re thinking about this, but it is a bad idea in the long run to be financially entangled once you’re divorced. If you’re wanting to move on you cannot be financially still in the same spot.
You would also be much more hard pressed to get off the mortgage in the future if you needed to and had not taken care of it prior to divorce. The remedy would likely be more cumbersome and expensive legally speaking because it is not a regular equitable distribution issue, it would be some other form of legal suit that is not as straight forward. And goodness forbid you get your name off the deed and not off the debt!
WillOTheWispish t1_j6l35bh wrote
Reply to Keep name on mortgage after divorce? by yeldarUV
You’re not going to be able to get another home loan if you’re still on the other mortgage. Or it will be very difficult. I get why you’re thinking about this, but it is a bad idea in the long run to be financially entangled once you’re divorced. If you’re wanting to move on you cannot be financially still in the same spot. You would also be much more hard pressed to get off the mortgage in the future if you needed to and had not taken care of it prior to divorce. The remedy would likely be more cumbersome and expensive legally speaking because it is not a regular equitable distribution issue, it would be some other form of legal suit that is not as straight forward. And goodness forbid you get your name off the deed and not off the debt!