Mortgage Options During Divorce

A divorce is always difficult, and this discussion of some its financial aspects is not much easier. However, it is an important and necessary consideration.

Divorce varies from state to state. In Oklahoma, the primary residence and other properties procured during the marriage are subject to division. But how do you split a house?

In many cases, there are only two options:

  • The house is sold, and the profits are split between the spouses.
  • One spouse keeps the house; the other spouse is removed from the title and mortgage.

The easiest option would be selling the house—unless the housing market is currently depressed. In shaky markets, the spouses may not be able to sell the home at the right price or soon enough, if at all.

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Real Estate 101

Real Estate 101

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