How to divorce your mortgage

By Marcie Geffner - HSH.com

A house is often a major point a contention when a married couple decides to divorce. But whereas spouses once fought mainly over who would own the house, some experts say arguments today are more likely to zero in on who will be responsible for the mortgage.

"We see more and more nowadays that if the mortgage exceeds the value of the property, neither spouse wants that obligation," says Carl Palatnik, a principal at the Center for Divorce and Finance, a financial planning firm in Melville, N.Y. "It's a very difficult issue."

If you're keeping the house, the best way to deal with the mortgage is usually for one spouse to refinance, Palatnik says.

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