To end a marriage, most people get a divorce. When people divorce it often means dividing up assets such as a house, cars, retirement accounts, and other assets and investments. But when it comes your home, mortgage and home equity loan, getting a divorce means understanding your liabilities with respect to having your name and credit associated with the home and mortgages. Learn from others who have been through a divorce, how they divided up their assets, and when they consulted an attorney or tax professional.
There are friendly and not-so-friendly divorces. But if your ex-spouse can't pay the mortgage because he lost his job, should you step forward and offer to pay off the remaining amount and give him the house just to be completely done? What's the price of being done? What would you do? Q: I have been [...]