The penalties on a mortgage can be frighteningly high. Make sure you know the approximate amount and when the mortgage renewal date is. If you know that the marriage is ending, make sure you are planning to have your separation terms in an agreement in place prior to the renewal so that you don’t get locked into another term and end up paying hefty penalties to pay out the mortgage early. Creative mortgage ideas and strategies that involve promises to each other around present and future ownership and payments etc., to avoid the mortgage penalties, inevitably turn into much bigger issues down the road and the cause of further stress and conflict between the couple. Reduce the financial impact of your divorce by knowing about your mortgage details well in advance and planning accordingly.