According to The Economist, the length of the average American marriage before divorce is eight years. In comparison, the standard length of a mortgage is thirty years. It’s no surprise then many mortgage contracts outlast the marriage of the people who signed them. In Washington State, any property that is acquired during the course of…
Marriages may not always last for decades, but some debts do. When a married couple who owns a house divorce, the mortgage debt often exists for longer than the marriage. During a divorce, couples need to be aware of the long-term consequences of their mortgage before deciding on what should happen to the house. Mortgages…
For many people, their house is their most valuable asset. In a divorce, assets are split fairly between the couple, including their home. When neither former partner can afford to keep the house, or when both partners want to leave the home, the house may be put up for sale. When One Partner Wants to…