One of the biggest battles during a separation is deciding who pays the mortgage while you’re waiting for the house to sell.
If both names are on the loan, both people are fully responsible for the payments-even if one has already moved out.
When the person living in the home misses a payment, that late payment can hurt the credit scores of both people.
The safest move is to make a written agreement that clearly splits the mortgage and housing costs fairly until the home is sold.
Planning to buy or sell a house or a condo in Mississauga, Brampton, Toronto and GTA? Give me a call!
