conversation: User (Adauna): "Hopefully this is an ok sub to post this to, but I need some help with a mortgage quandary. My partner and I got married and intended to buy property, but were recently informed that with my credit and income, it would be cheaper to just have my name on the mortgage. We have 100% separate finances and we ideally want to both be on the mortgage since both of us would have a stake in the house if we split due to the fact that we married without a prenup and it stops either of us from defaulting on the loan since our names would be on it. Even with a postnup it's likely both of us would have a stake in the property in a divorce because those aren't ironclad. However, it's pretty tempting to think about the extra money we'd save. \n\nEDIT: We live in a very high cost of living area so the mortgage would be about $2500-3000/month. \n\n2nd EDIT: Just for clarification, I'm the wife. \n\nWhat are the pros and cons of this?"
  Self: "Having been through a divorce where we were both on the mortgage, I can tell you that was the most difficult part of the whole ordeal. You can't just take someone's name off of a mortgage -- you either have to sell it or one of you has to refinance it in your name only.  My guess is that if you were to split up, there would be negotiating of communal property or payment of equity, etc etc, but you wouldn't have to go through the process of selling or refinancing -- unless he demanded an amount that you could only get by selling. Hopefully this will be a non-issue for you, but it is a reality of life to consider. \nSave the money and get the mortgage in just your name. It is still "home" to both if you. "
  User (Adauna): "That's a really good point, I didn't realize you'd have to refinance or sell. "
  