Can you refinance a divorce mortgage?

Refinancing is a common way to remove an ex from the mortgage and potentially pay their share of the equity. Mortgage rates will depend on your credit and loan terms. It’s wise to seek a mortgage pre-approval to understand the refinance rates and deals available for your divorce mortgage situation.

Can a divorcing spouse refinance a joint mortgage?

Some divorcing couples with a joint mortgage decide to refinance to a new mortgage in only one of the spouse’s names. This releases the removed spouse from responsibility for that mortgage. However, unless that partner’s name is also removed from the title, they can still benefit from the sale and equity in the home.

Should you refinance a shared house during a divorce?

If you're facing a divorce and share a mortgage with your former spouse, you may want to consider refinancing. While some homeowners decide that selling the shared house is the way they want to divide assets during a divorce, there are alternative options to consider.