Divorce Mortgage Lending in Chicago: Protect Your Home and Financial Future

Divorce is stressful enough — dealing with your mortgage doesn’t have to be. As a Divorce Mortgage Lending Specialist in Chicago, I help clients make smart, informed decisions about their home, equity, and credit during and after a divorce.

When a home is jointly owned, both spouses remain legally responsible for the loan, even after a divorce decree. That’s why understanding your mortgage options is critical before finalizing your settlement.

Here are three common mortgage solutions for divorcing homeowners:

1. Refinance the mortgage into one spouse’s name.This removes the other spouse from liability and allows one party to keep the home — but it requires qualifying on a single income.

2. Sell the property and divide the proceeds.This offers a clean break and allows both parties to move forward financially.

3. Keep the joint loan temporarily.This may seem easy in the short term but can cause problems later if one party misses payments or wants to buy another home.

A divorce mortgage professional can help you evaluate equity buyouts, refinancing timelines, and how to structure your decree to protect your credit.

I’ve helped countless Chicago-area clients navigate this exact situation — ensuring smooth closings, fair outcomes, and financial stability.

👉 If you’re going through a divorce and need mortgage guidance, contact me today at ToddProbasco.com for a free, confidential consultation. Let’s secure your next chapter with confidence.