You would not think that divorcing couples are fighting over who has to keep the house. With housing prices declining in parts of the country, many broken homes are not worth the price that they paid for them.
This leads to the divorcing couples not being able to sell the home and leaving them with 3 choices. First one can leave the home and the other stuck trying to sell it or continuing to live there, second that they both remain in the home to keep it from going underwater, or third that the children continue to live in the home and the parents rotate in.
Watching friends in this situation right now it is difficult for all involved. There is no advice to give broadly as each situation can be so different, yet one wants to help. However the strain on both parties living under the same roof after the decision has been made to divorce is horrible for all involved.
Getting divorced is one of life’s most difficult passages, and the housing market meltdown is making it tougher. With home prices plunging and foreclosures soaring, divorcing couples are finding it harder to rid themselves of jointly owned property – and as a result, each other.
Even when one spouse is willing to buy out the other and remain in the home, tighter credit means banks often refuse to refinance mortgages on properties with little or no equity.
“They used to fight over who was going to keep the house,” said Marc Angelucci, a family law attorney with the Men’s Legal Center in downtown San Diego. “Now they’re fighting to get away from the house.” via The San Diego Union-Tribune.
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I believe this will lower the divorce rate and thats at least positive!!!