“Real Estate Market Forces Divorced Couples To Stay Together”

In Memphis and across the country there has been a downturn in the real estate market. While the rates are good and it’s a “buyer’s market” this doesn’t necessarily translate well for divorcing couples who are relying on the sale of their former marital home to have fair and equitable property division. The option of buying out or refinancing one spouse off the property just may not be a financial option. Our Memphis Divorce Lawyers will assist you and your spouse in finding solutions that will work for you.

Here is an excerpt from an interesting article from the San Francisco Chronicle:

“The housing market is having a major impact on divorce cases,” said Stephen Ruben, a certified family law specialist in San Francisco. “If a house doesn’t sell, it has a major impact on cash flow for child support, on where people live, on future taxes.” Post-marital cohabitation Indeed, the mortgage crisis and moribund market have made for some strange bedfellows.

“There is a whole new aspect of divorce that most couples never had to face,” explained Janell Weinstein, a partner in the law firm of Federbusch & Weinstein in New Jersey. “Many couples are forced to live under the same roof because they can’t afford to move on until their home gets sold. This can go on for months or even years as the real estate market across the United States slows down tremendously. Homes that used to sell in weeks are now not moving at all.”

Read the complete article here: Breaking up is harder to do: The housing bust’s influence on divorce By Carol Lloyd, Special to SF Gate Friday, April 4, 2008

If you are buying, selling, or refinancing consider Old Colonial Title & Closing Services for it’s $199 “All-Inclusive” Closings. Old Colonial Title & Closing Services is affiliated with Ferrell Law Firm.

Source of post: Maine Divorce Law Blog

This entry was posted on Thursday, April 17th, 2008 at 10:29 am and is filed under Divorce Law. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.