During a marriage, couples work together to build their wealth and reach financial goals. To some couples, financial goals include having enough money for a good-sized down payment; for others, it means putting money into savings in order to put kids through college.

Regardless of the goal, working together to achieve the goals often means making financial and emotional investments. Unfortunately, during divorce that all changes. For many couples in Old Bridge, property division can be one of the most challenging elements of divorce, especially deciding who gets the house.

So what should you do with the house during divorce?

In most situations, selling the house can be one of the best options. If one person tries to keep a house that two people have been maintaining, it can create unnecessary financial burdens for that person.

However, if you're committed to keeping your marital home, you should consider refinancing it. But even that can be tricky. After you're divorced, your lender may not recognize that only one person is financially responsible for the house. As a result, if the homeowner misses a payment, it can negatively impact the credit scores of both parties. In some situations, poor credit, negative equity or inadequate income can make it difficult or impossible to refinance.

Another option may be to keep your mortgage but have your ex taken off it. However, many lenders are hesitant to do that. As one financial advisor explained, "The lender has a better shot at collecting if both parties are on the hook for that money."

When you are making the decision as to whether you should keep your house, you will likely be influenced by two factors -- emotions and finances. If you take your emotions out of the picture, it should be clear that selling your home will likely be the best option.

Source: NASDAQ, "How to divorce your mortgage," Marcie Geffner, Jan. 26, 2012