Was reading in the real estate section about an interesting problem.
A man wrote that he got divorced and his wife got the house in the settlement.
The man is now remarried and he and his new wife want to buy a house. Ain’t gonna happen. Why? Because the house he lost in the first divorce still has his name as co-owner on the mortgage (even though his wife is obligated to make the payments as per settlement.)
According to the advice in the paper, a good lawyer would have noticed this and insisted the guy’s ex-wife re-finance the house in her name alone. Now, unless ex-wife sells or refinances, his name is still on the mortgage and no bank will let him buy another house with another mortgage.
Just thought this might be an interesting tidbit to know, should you or someone you know go through a divorce.