When ending a marriage, the decisions made can have effects on Pennsylvania residents for years to come. It can be difficult to make certain choices because arrangements that seem fitting now may not prove as useful later on. This may be especially true when trying to decide what to do with the family home during divorce.

Taking on a mortgage is a major financial responsibility, and if a person wants to keep the home, it is wise for him or her to ensure that it will not cause an unnecessary financial burden later. If that assurance has been made, it is then important to determine how the mortgage will be handled. Some parties may find that they can work together and maintain a joint mortgage even after divorce, and others may feel it is the sole responsibility of the person keeping the property to pay the mortgage.

Taking on a pre-existing mortgage may mean refinancing or assuming the current mortgage. The decision will depend on the exact circumstances that a person is working with. In some cases, assuming a mortgage may help keep beneficial terms, but not all lenders allow a loan assumption. Additionally, assuming a mortgage does not always mean that the terms will be better than refinancing, which is why exploring all available options is wise.

Divorce involves decisions upon decisions, and each decision can affect financial and personal factors in many ways. Keeping a home is a major choice, and if it does not seem feasible, it may be wise to consider other property division options. Discussing possible goals and outcomes with their legal counsel may prove useful to interested Pennsylvania residents.