Do I have to refinance my house or sell after divorce
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Do I have to refinance my house or sell after divorce
I financed our current home 2 years ago in my name
only but I was married to my current husband so I
know he still signed some papers and its considered
a marital asset. I am considering divorce but want to
keep the home and can afford it independently. My
credit stinks due to medical and student loan issues.
I am not sure that I could refinance with my credit
score but I could likely pay out of pocket his half of
any equity. Will I have to refinance?
Asked on October 1, 2019 under Family Law, Missouri
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 4 years ago | Contributor
If you are awarded (given) the house, you will likely have to refinance if he is on the mortgage so as to remove him from tje mortgage. Otherwise, he will remain liable for the loan on a property which is not his and would gave trouble getting a mortgage for his own place while still being on this mortgage.
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