Housing crisis brings new obstacles t...

Housing crisis brings new obstacles to divorce settlements

There are 14 comments on the The Morning Call story from Jan 27, 2008, titled Housing crisis brings new obstacles to divorce settlements. In it, The Morning Call reports that:

Leah is ready to move on with her life. When she and her husband were divorced last year, they planned to sell their $490,000 home in Durham, Conn., split the proceeds and go their separate ways.

Join the discussion below, or Read more at The Morning Call.

heavenbound

Northampton, PA

#1 Jan 27, 2008
i suggest that you contact a general contractor and see about making part of your house an apartment either the downstairs or block off part of the living area and put in a full bath and kitchen... rent it out... or let the former spouse live there and split the expenses... this way your daughter could see him all the time, he would have a decent place to live and you could keep the house untill the market recovers... if this is too painful then rent to someone else that might be going through a similar sittuation...
RonMania

Allentown, PA

#2 Jan 27, 2008
I suggest you not get married in the first place. You made a stupid decision & now you have to live with it! How upsetting!! Go cry a river someplace else!! It's an old story!!
art

Elizabeth, NJ

#3 Jan 27, 2008
what is never mentioned that the strain of purchasing and maintaining these expensive houses is in my experience the major CAUSE of the divorce. It may manifest itself in other ways but seeing that 2200 mortgage bill plus a 500 equity loan bill every month has its effect. No one can quit their job, no one can do what they really want and the blame game starts. Many blue collar people live in houses now that only doctors would have when i was growing up
Been There

Slatington, PA

#4 Jan 27, 2008
art wrote:
what is never mentioned that the strain of purchasing and maintaining these expensive houses is in my experience the major CAUSE of the divorce. It may manifest itself in other ways but seeing that 2200 mortgage bill plus a 500 equity loan bill every month has its effect. No one can quit their job, no one can do what they really want and the blame game starts. Many blue collar people live in houses now that only doctors would have when i was growing up
Yes, this couple obviously bought a home well "over their heads". When I got divorced, he bought me out of my half of our home and the mortgage payment was able to be made every month until the final divorce settlement because we had not purchased a home "over our heads". Sounds like this pair are now needing "psychological counseling" now because they never got "credit counseling".
Been There

Slatington, PA

#5 Jan 27, 2008
They are worried that their child is not able to live in the lap of luxury she once was afforded? Wow, their child is living how she is now because of both of the parents mistakes in buying over their heads and then wanting a divorce. Divorces were never ever in history "a walk in the park". LOL!
Been There

Slatington, PA

#6 Jan 27, 2008
Oh, and by the way, mine had his "girlfriend" move in the day after I left (as this article also refers to). The difference in our case is that I MADE HIM agree to pay the whole mortgage himself until the divorce was final because he wanted to stay in the house and buy me out. He otherwise would have to go to his other alternative, that being listing the property for sale and having to go through the work of moving like I did. Yes, he was smart and took me up on my offer! LOL! Then again people, our mortgage was a modest one and he was able to make the payment himself until settlement.(I'm sure he extracted some funds from his girlfriend to help out) ROFL! In divorce, you have to play it smart people!
Crying women

Bethlehem, PA

#7 Jan 27, 2008
Of course the women are crying. If the one beeachh lived in the home with her unemployed boyfriend she'd want the soon to be ex to keep paying. Read divorce websites where mostly women write to. How can i screw my husband over good, take his pension, inheritance (even if I'm not entitled) move the kids so he can't see them, get spousal support, child support, send kids to private school to really stick it to him, make him pay lawyer fees,...........SHUT UP already.
Oh Well

Bethlehem, PA

#8 Jan 27, 2008
What housing crisis?

My house is paid for.

If you can't make your mortgage payment, it's your fault.

While most of you were hauling all the flat screen tv's out of Best Buy, I was watching my 20 year old televison.

Maybe I should start looking at flat screen tv's.
TENACIOUS

Nazareth, PA

#9 Jan 27, 2008
heavenbound wrote:
i suggest that you contact a general contractor and see about making part of your house an apartment either the downstairs or block off part of the living area and put in a full bath and kitchen... rent it out... or let the former spouse live there and split the expenses... this way your daughter could see him all the time, he would have a decent place to live and you could keep the house untill the market recovers... if this is too painful then rent to someone else that might be going through a similar sittuation...
I agree, but make dates off limits to the house.
That could cause problems with the children and the x.
TENACIOUS

Nazareth, PA

#10 Jan 27, 2008
Oh Well wrote:
What housing crisis?
My house is paid for.
If you can't make your mortgage payment, it's your fault.
While most of you were hauling all the flat screen tv's out of Best Buy, I was watching my 20 year old televison.
Maybe I should start looking at flat screen tv's.
My tv's even older than yours. But because of the type of job I had things got shaky for a while. Fortunatly I fixed that, but many can't. If you drive limo's, install hardwood floors, or sell high end electronics, etc, you may end up having financial difficulties, these are things people stop spending money on. If you become ill or injured and can't work you could lose your home. I have friends that had a good income, that has been cut in half because very few houses are being built. It is still a good income but doesn't cover the arm mortgage payment that went up $1000.00. That is a big hit for most people.
Read the post about the 401k, and the girl that lost her job because of it. And how about the bank that escrowed $2800.00 for a $1200.00 tax bill? This little bank error took 6 months to correct and added $12000.00 of legal fees to the person's mortgage (the bank never admitted their error). So although many people do stupid things, it is not always the persons' fault. Unless you are a teacher, haul trash, drive school bus, or are a lawyer, doctor, or mortician, etc. Your living could be in jeopardy.
Oh Well

Bethlehem, PA

#11 Jan 27, 2008
TENACIOUS wrote:
<quoted text>
My tv's even older than yours. But because of the type of job I had things got shaky for a while. Fortunatly I fixed that, but many can't. If you drive limo's, install hardwood floors, or sell high end electronics, etc, you may end up having financial difficulties, these are things people stop spending money on. If you become ill or injured and can't work you could lose your home. I have friends that had a good income, that has been cut in half because very few houses are being built. It is still a good income but doesn't cover the arm mortgage payment that went up $1000.00. That is a big hit for most people.
Read the post about the 401k, and the girl that lost her job because of it. And how about the bank that escrowed $2800.00 for a $1200.00 tax bill? This little bank error took 6 months to correct and added $12000.00 of legal fees to the person's mortgage (the bank never admitted their error). So although many people do stupid things, it is not always the persons' fault. Unless you are a teacher, haul trash, drive school bus, or are a lawyer, doctor, or mortician, etc. Your living could be in jeopardy.
You have my empathy.

However, my parents did not have money to send me to college. I joined the army for 4 years, and then worked through college to pay the bills.

I firmly believe that if you can't afford something, you should not buy it. There are some traditional rules about buying a house, such as paying at least 20% down, and that the total price should not exceed 3 times your annual income. If people would follow those simple rules, there would be no need for ARM'S or a second mortgage. Nowadays people are buying houses with less than 5% down. People are buying new cars with 6 year loans.

I will never forget what one of my professors told me in college-If you think America is the land of the free, quit your job and you will find out.
Reality Check

Langhorne, PA

#12 Jan 27, 2008
Amen.
You idiot

United States

#13 Jan 28, 2008
Your a negative SOB...I bet you life is perfect...you are an ass!
RonMania wrote:
I suggest you not get married in the first place. You made a stupid decision & now you have to live with it! How upsetting!! Go cry a river someplace else!! It's an old story!!
Legacy of Bush

Whitehall, PA

#14 Jan 29, 2008

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