Mediate Michigan

Knowledge is power and if there is a divorce looming in your future it is important to know how it can affect your credit. Divorce has the potential to destroy your ability to retain ownership of your present home and it can also put up road blocks to future home ownership.

When we think of it as our marital home, most of us think of it as our greatest asset, however, once divorce enters the picture, this symbol of comfort and safety can also represent our largest liability.

Many couples who initiate a divorce seeking to retain custody of the home may find themselves months later embroiled in a battle to remove the “hot potato” of a mortgage from their credit. Here are some things to remember. This advice applies not only to married couples, but to any two or more people who sign jointly for any type of credit including a home mortgage.

via Don’t Let Divorce Destroy Your Credit – Encino, CA Patch.