Can you refinance a home for divorce?

This is certainly possible, but the person staying in the home will need to get their ex-spouse off of the mortgage loan, which can only be done by refinancing your home. Refinancing is something we do at Accunet all the time, but when it’s refinancing a home for divorce, it’s a little different. Basically, you have three options:

Should a divorce settlement set a deadline for refinancing?

The divorce mortgage settlement should set the deadline for refinancing. As you negotiate the details of your divorce and mortgage, make sure the deadline to refinance is reasonable. Some settlements call for the home to be sold if it’s not refinanced on time.

Can a divorcing spouse refinance a joint mortgage?

Some divorcing couples with a joint mortgage decide to refinance to a new mortgage in only one of the spouse’s names. This releases the removed spouse from responsibility for that mortgage. However, unless that partner’s name is also removed from the title, they can still benefit from the sale and equity in the home.

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