 TITLE: How to Buy a House Together—Even If You’re Not Married CONTENT: Three Things to Consider Before Moving Forward\n----------------------------------------------\nRegardless of how solid your relationship is, there are always potential pitfalls that could occur when you're buying a house with someone you're not married to. Here are three things you should be thinking about.\n1.  Your credit (and shelter) is at risk. If your name's on the mortgage, and your partner can't or won't contribute to the payments anymore, that doesn't mean you're off the hook. You are both equally liable for the payments; if you're unable to afford to make payments in full without their help, you could face foreclosure, which will cost you your home and severely damage your credit scores.\n2.  You will need to refinance to take one person's name off a joint loan. Even if you move out, your name will remain on the mortgage. The loan will still appear on your credit reports—and, if the other owner falls behind on payments, it will damage your scores. In your cohabitation agreement, you might want to stipulate that the house will be refinanced in the event of a breakup. (Though keep in mind the other owner will then need to qualify for the entire loan on their own.)\n3.  Only one person is eligible for the mortgage interest tax deduction. Since unmarried people file their taxes separately, only one of you will be able to deduct the mortgage interest from your return. This only matters, however, if you plan to itemize. END