When Texas couples get a divorce, one of the parties may decide to keep the family home. There are essentially three ways the couple can do this. One is for the couple to keep the joint mortgage even though only one spouse keeps the home. The drawback is that if the spouse who keeps the home misses a payment, it could seriously damage the other spouse's credit rating.
The other choices are to refinance the loan or assume the mortgage. A mortgage assumption can look like an attractive option because it allows the person to keep the favorable terms of the original mortgage. Not every loan can be assumed, so the first step for the person should be to get a copy of the promissory note and check it for that detail.