marital property: Eliminating Marital Mortgage Debt May Be More Important Than Dividing the Marital Property - 05/04/11 09:10 AM
In today’s housing market, eliminating the marital mortgage debt may be more important than dividing up the marital property.
Selling and getting rid of the house also gets rid of the mortgage debt and the mortgage payment. If the mortgage payment is too high and unsustainable then keeping the house is a recipe for disaster.
A short sale can solve the problem of selling a house that is worth less than the debt.
In a short sale, the lender allows the house to sell for an amount SHORT of the payoff. In most cases the lender forgives the deficiency, but not … (0 comments)