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Clark Howard: Mortgage and marriage

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Updated: 5/23/2013 9:05 am

JACKSONVILLE, Fla. -- There's a big change in how younger people couple up in America. The younger you are, the more likely you are living with someone else, without being married to them. 

In fact a new study by Caldwell Banker found roughly one in four people up to the age 34 will buy a home together with someone they are not married to.

So let me tell you something here, people who live together without the benefit of marriage are statistically more likely to break up than a married couple. So if you're going to buy a home together and you're not married, you need to have some kind of written agreement.

In other words, how you split expenses. If you decide to split up, who's responsible for what? Who's going to stay or how you are going to handle disposing of that house? You have to protect your self upfront and through the home ownership.

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Watch Clark Howard weekday mornings on Action News This Morning on FOX30 beginning at 7 a.m.
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The views expressed here do not necessarily represent those of Action News Jacksonville

Fred Thompson - 5/23/2013 12:13 PM
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True financial success!? Don't get married/ don't own a (poorly cunstructed anyhow) house/ don't bring children in to a soon to be doomed WORLD ECONOMY. No house/ no kids/ no excessive expence in your life. And total self control.
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