Alabama residents may be interested in assuming the loan on the mortgage they share with their spouse after the divorce process. This means that one of the borrowers is removed from the loan. The one who assumes the loan will not need to refinance. Before a person decides to do this, it is good to know all of the facts.
People in Alabama who decide to divorce may be motivated to move on for deeply personal and emotional reasons. However, separation can also be challenging due to the practical issues involved. Divorce can involve an extensive amount of paperwork and research, so being prepared in advance can help one emerge from a difficult situation with reduced pressure. Therefore, spouses who are considering a divorce may want to begin with an inventory of their personal documents.