Boston Property Management: How to get a mortgage after divorce

Boston property management

Boston Property Management:  Mortgage after divorce

Divorce is terrible in many ways as it leads to a disruption in your life, losing someone you may have once loved as well as a division of assets. It is terrible especially when you find out that you will end up losing your house.

The problem with that is that it is not easy to get a mortgage for a new place if you were part of a two income family. Creditors tend to prefer people with a good income. If you depended on your former spouse to get a mortgage then it will be tough to get one.

Here is a list of things you need to do to get a mortgage.

If your ex gets the house as part of the divorce settlement, then you need to make sure that your ex refinances in his or her own name.  It is not a good idea to leave your name on the mortgage. The advantage of this is that your debt will be reduced and you will be able to get a new mortgage. This step should only be taken if your ex can afford to pay the mortgage. In the event that your ex can’t afford the mortgage and if you have kids, then leave your name on the mortgage for some time. The transition period takes some time and it would be beneficial for everyone. The kids do not need any upheaval in their lives.

In the event that the house may be sold later down the road, then both parties should agree on how the profits should be split down the road. The only point to remember is that the ex-spouse who makes the mortgage payments and spends money on the upkeep of the house will get the bigger share.


Boston Property Management Experts also suggest that one should not buy a house during divorce proceedings as it can be quite risky. Lenders prefer if everything has been settled before they make a decision. It does not matter how good your credit and income are as lenders think of it as a risk.  Another point to remember is that lenders also see if a person is paying alimony. Alimony is always considered a debt so it will count as a reduction in your income.


If money is an issue, then the best thing to do is to live in the same house as your ex till you are able to afford a place of your own. The only way this can happen is if both maintain a civil relationship. It is not a good idea if the relationship is quite hostile. Another way to do it is to rent an apartment near your house while the divorce goes through. This allows the kids to have a stable home and both parents nearby.

We hope you liked our guide “ Boston Property Management: How to get a mortgage after divorce.”

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