Have you signed off on ownership to a marital property and think that
now you are free from worry about any future mortgage debt obligations
to the property? Well, you might want to continue reading.
During a divorce, once a spouse signs his or her name off of a
property title, that does not mean that the spouse is off of the
mortgage loan as well, contrary to what many people seem to believe.
It is important to know that creditors, including the mortgage
lenders, are not part of the divorce proceedings. While a spouse is
legally allowed to sign his or her name off the deed to a home as part
of the divorce settlement, the lender does not have any obligation to
remove the spouse’s name from the mortgage loan. However, a bankruptcy
filing can change these circumstances.
Click on the following link to read more about divorce and what it means for mortgage debt and bankruptcy:
http://www.foxbusiness.com/personal-finance/2013/07/02/how-does-divorce-affect-bankruptcy-and-mortgage/
To learn more about the complexities of property division in a
divorce, and to see if mediation is an option for your divorce, speak
with a family law attorney at the Law Offices of Jeremy W. Howe, LTD., in Providence, Rhode Island.
The experienced lawyers at Law Office of Jeremy W. Howe, LTD.
and the mediators at Partners In Mediation offer you two options in
order to proceed with your divorce or other family disputes and
problems. Learn about these options and which would work best for you by
calling or contacting Jeremy Howe for a free comprehensive telephone
consultation. Attorney Howe and his team of family court lawyers have
been providing quality divorce and family representation in all Family
Courts in Rhode Island for nearly four decades. He and his co-mediator
have mediated hundreds of divorce, family law and elder law cases across Rhode Island.
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The Law Offices of Jeremy W. Howe, LTD. Providing Family Law and Elder Law Services to Rhode Island since 1974.
"We Make Elder Law House Calls!"
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