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Refinance Mortgage Title Insurance

Mario Said:

How do I handle the mortgage and title of our marital home after divorce?

We Answered:

You make sure the divorce decree MANDATES that whoever gets the home either refinances in their own name, or sells the home by a SPECIFIED date. You DO NOT sign over the deed until you are sitting at the table closing on the transaction that removes you form liability for the mortgage.
Note: Divorce court can order one party or the other to assume responsibility for a debt, but they CAN'T remove the other party from liability to the creditors for the debt. You DO NOT want to remain liable for the mortgage but have no claim on the title.

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