Tuesday, December 30, 2008

Housing Market Divorce Twist: Neither One Wants The House

Housing Market Divorce Twist: Neither One Wants The House: "With nearly one in six homes worth less than the mortgage owed on it, according to Moody's Economy.com, divorce lawyers and financial advisers around the country say the logistics of divorce have been turned around. 'We used to fight about who gets to keep the house,' said Gary Nickelson, president of the American Academy of Matrimonial Lawyers. 'Now we fight about who gets stuck with the dead cow.'"
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Nobody wants to be the one who has to buy out the other and keep the house. Instead the smart move is to get bought out and take your half and...then what?

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