Divorce Mortgage in Florida: Frequently Asked Questions for Homeowners

Divorce is already a stressful life transition, and when real estate is involved the situation becomes even more complex. For many couples, the marital home is the largest shared asset, and decisions about the mortgage can affect both parties for years to come.

Below are some of the most common questions homeowners ask when going through a divorce in Florida and trying to determine what happens to their home loan and property.

Is Removing Someone From the Title the Same as Removing Them From the Mortgage?

No. This is one of the most common misunderstandings.

Removing a spouse from the property title only changes ownership of the home. It does not remove their financial responsibility for the mortgage.

The only way to remove a borrower from a mortgage in most cases is through refinancing, loan payoff, or lender-approved assumption.

Cornerstone First Mortgage

Racheli Refael Mortgage Adviser | Divorce Mortgage Planner (CDLP®) NMLS #64918

Office: 954-800-0330 Websiteswww.Loans-4-U.com www.RealEstateAgentToolbox.com

Branch Office: 471 NE 26th Street #100 Fort Lauderdale, FL 33304