Trevor pulled out his calculator as he prepared to crunch the numbers, he was certain that he would not like what he came up with, but it was a task that he would have to endure. After a messy divorce and a string of expenses that left him in more debt than he cared to think about, it was time to reevaluate where he was financially. His good credit was now in the toilet and there was every reason to believe that he would lose his home. He won the house in the divorce settlement, but that was due to the fact that his ex-wife could not afford the payments and she had a place to go with her new boyfriend anyway.
When we purchase a home, especially when there are two sources of income, we tend to adjust our payments with both of those income sources in mind. We should always consider the possibility that only one of us could be around to keep up with those payments. People get divorced every day and we all know that we are mere mortals, so it is possible to leave this earth before the property has been paid for. In order to manage mortgage payments when two people become one, we should consider financing just enough money for a one income household.