Mortgage Payments during Separation


#1

I’m going to agree to pay a significant mortgage payment each month all by myself during the separation as my wife can’t afford to do so. My concern is that I don’t want that payment to be used against me during negotiations on a separation agreement, or if we don’t have one, then by a judge at trial. I don’t want it to come across that since I have paid the mortgage solo, then I can afford to pay the same amount in Alimony once divorced. What do you think? Also, if I move out prior to us having a notarized separation agreement, do I give up my ability to get my half of the joint property prior to a court proceeding? I’m thinking the best thing to do is notarize the mortgage payment agreement and put in there that both parties will come to an agreement on all other issues in 2 months time. I appreciate your assistance/advice!


#2

Leaving the marital residence does not waive your right to receive half of the marital and divisible property. Only signing a document stating that you waive your rights will do that. It will be more difficult to get some of your personal property out of the house, though.

You won’t be able to put in that you will come to an agreement in 2 month’s time, but you can put in that you will attend mediation within 2 months. Making the mortgage payments will not automatically bind you to that amount, so if you make an agreement you should put language that the amount is temporary and non-prejudicial in future proceedings.


#3

How do mortgage companies determine which credit score to use?
With the three credit scores being different, which do they use to determine you qualification for a mortgage? Or do they simply average all three scores. My husband has two scores at around 540 and his transunion is at 605. What are his chances?



#4

I do no know the answer to that, and different banks likely have different criteria. You should speak to a few different lenders to get an idea of your husband’s ability to refinance.