Husband and I have decided to divorce. Husband said it’s financially better for me to take the home since we currently have a 2.8% interest rate on our current mortgage and I could afford it as long as I make some hard lifestyle changes. If I go this route, husband and I agreed that I will just pay him 1/2 of the equity.
Does my husband need to be taken off the loan or is it still okay for his name to be on it? I know you can assume a loan to become the sole owner but my husband said to keep his name on just in case if I have any issue in paying, he will be able to assist.
Any advice appreciated since this is our first time going through this and I’m very worried about the finance piece.
For more context, I’ll be starting a new job with a $118k salary and our monthly mortgage payment (including HOA, insurance and taxes) is $2700
Thank you!
Submitted July 29, 2024 at 11:38PM by panda-bear-10 https://ift.tt/yKXQFq8
