24
Sep
COLLINS OMALU Divorce may settle who keeps the house, but it does not automatically remove either spouse from the home loan. For instance, after signing the divorce papers, the relief feels immediate. The hard part, many people assume, is behind them. Then the SMS from a bank arrives: the bond payment is overdue. One former spouse may have moved out, and the settlement may say the other will “take over” the home loan. But until the bank agrees and the paperwork is properly updated, both names remain jointly and severally liable for the debt. That is where many people are…
