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P. Simmons
P. Simmons, Lawyer
Category: Family Law
Satisfied Customers: 33104
Experience:  16 yrs. of experience including family law.
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My wife and I co-own a house. We want to get a divorce and

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My wife and I co-own a house. We want to get a divorce and continue jointly owning the house. Is there a risk the mortgage company will call the loan?
Submitted: 5 years ago.
Category: Family Law
Expert:  P. Simmons replied 5 years ago.
Thanks for the chance to help. I am an attorney with over 12 years experience. Hopefully I can help you with your legal question.

No. That is not a risk. The fact you divorce would NOT be grounds to call the loan (unless your contract has a specific provision that requires you to remain married...and even then...if you had such an unlikely provision...You could challenge that on the basis its not a valid contract term...that the provision is in violation of public policy).

The fact you divorce should have no impact on your loan with the bank.
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