divorce lawyer louisville ky: Do It Yourself Divorce and Uncontested Divorce – But what about the upside down house debt? - 05/19/11 12:25 AM
Divorced or divorcing spouses often call me to help them sell their house. Sometimes they say they have a very simple divorce. No kids, no complicated assets to divide up. Just a mutually agreed upon decision to part ways.
“There is that house we need to sell. But, there’s no equity to split, so it’s not a problem. We owe more than it’s worth.”
I’ll ask, “What does your divorce attorney say about that?”
“We’re not wasting money on lawyers. We went to the court house and got a do-it-yourself divorce packet, filled it out ourselves and filed,” comes the reply. … (3 comments)

divorce lawyer louisville ky: Divorce - Mortgage Payments Too High and Owe Too Much to Sell. What To Do? - 05/08/11 02:03 AM
How about getting rid of the mortgage debt altogether via a short sale? Let’s explore.
Dividing the excess home equity in a divorce used to be a primary point of contention. Today it seems that dividing the debt is a primary issue.
Millions of homes nationwide have “underwater mortgages” meaning more owed than the house is worth. Leaving that debt in place is fraught with peril.
What if I deed my house to the other spouse?
Remember, no matter what the divorce agreement says, the parties who originally signed their obligation on the existing mortgage debt remain personally liable to repay … (2 comments)