If You Can’t Afford to Divorce, You Might As Well Stay Together
Love couldn’t keep them together. Neither could their priest or their marriage counselor. But, in many cases, it looks like finances just might manage to do what nothing else could.
In some parts of the country, the divorce rate is going down. Not because the couple has had a change of heart and doesn’t want to divorce. But, because the house is so heavily mortgaged, they simply can’t afford to divorce until home prices return to where they can sell it and not take a loss. In a way, their divorce has become a prisoner of their mortgage debt.
In the words of Attorney Gary Nickelson, President of the American Academy of Matrimonial Lawyers, “Everybody wants the asset that’s worth something. Nobody wants the asset that’s not worth anything or has debt attached to it.”
Read entire article at dividing property in divorce property agreement/settlements
Last modified April 16, 2009Author 2851 > has blogged 101 times
