Mortgages and Divorce
Review the details of the mortgage on the matrimonial home when ending the marriage. Make sure you know when the mortgage renewal date is. If you are going to leave, make sure it is before the renewal date. Leaving after the renewal date will mean that you have to pay penalties to cancel the mortgage. Some couples try to get creative with their ideas around the mortgage which inevitably become bigger issues and more frustrating further down the road. Save yourself from a financial divorce issue by reviewing your mortgage and planning accordingly.