divorce and short sales: I Will Do a Short Sale When It's Court Ordered, Said the Divorcing Wife
- 08/23/16 08:50 PM
Divorce is an interesting niche in our real estate practice whch can be, understandably, very emotionally charged. The spirit of cooperation to maintain the marriage, the home and in some cases, just civil conversation, has long since been overtaken by anger and the blame for a situation that neither spouse welcomes. While short sales are not as prevalent now as they were a few years ago, we see them because of our divorce niche. The second mortgage or refinancing that was done to pay for the....name that expense....has now made the mortgage(s) total more than the market price (21 comments)
divorce and short sales: "I'll Just Re-finance.." said the Ex Husband...Or Not...
- 03/01/16 07:29 PM
As you might imagine when you choose to include the niche of divorce in your real estate practice...everything does not always go "on schedule" or "as planned" when the Sellers main agreement is not to stay married. Sometimes a couple learns that the house is upside down later than sooner. The deficiency between what is owed and what the market will bear can result in a short sale...OR in some cases...at least one member of the former couple understands that there is deficiency and chooses to pay it at closing rather than do a short sale. Wisconsin is a marital (11 comments)
divorce and short sales: "I'm not doing a short sale...I am not one of 'those people'!
- 11/28/15 07:09 PM
With divorce as a part of our practice...short sales are part ot it as well. The people who financed with 80/20 loans or those with little money down are now finding themselves upside down in divorce.In many areas the market has improved...But it has not improved to the extent that no money or little money down plus a decline can cover the loss. The house can be a starter home or hundreds or thousands..the result is the same...negative equity. Divorce brings with it a flurry of emotions...and in many cases this can lead to acting out these emotions. The house is (19 comments)
divorce and short sales: "If you worked harder, my house would sell for a higher price !"
- 02/09/11 10:59 PM
Short sale sellers are stressed.....to limits that they never imagined they would experience. No one gets married, thinking they would ever divorce No one takes a job imagining they would be down sized or dismissed No one ever imagines less than perfect health No one can conceive of the death of a spouse And none of those things have a face....the anger, sometimes rage that short sale sellers experience has to find a place to be vented....and sometimes, the short sale listing agent is the object of the misplaced anger.....it has no place else to go....and you (20 comments)
divorce and short sales: It's Easier to Get Married....Than it is Divorced....
- 04/09/10 10:55 PM
It's easier to get married than it is divorced....(more fun too ) ! People often refer to the initial part of a relationship as the "honeymoon" period...that time when you look into each other's eyelashes....giggle now and then, holding hands....goose bumps, heart thumping...planning the wedding...the honeymoon, the home you share...the celebration of a new beginning in life. New beginnings....there are many throughout our lives and careers...some expected, planned and welcomed... - The wedding - The new baby - The graduation - The new career -The new house
We were asked to call a friend’s divorce lawyer regarding the sale of his home. His soon to be ex-wife was living in the house, not paying the mortgage, not allowing showings and they had been given a notice of default months ago. The husband wanted to do a short sale…he understands what the ravages of foreclosure will do to him for years to come. I explained to the husband, if his ex did not allow showings, changing listing agents would in all likelihood not change that situation . He called his lawyer and told him we would (6 comments)
divorce and short sales: "He Cheated on me, our children...our Life.." sobbed the soon to be short sale seller
- 04/02/10 10:41 PM
It felt like the rush of lava from a volcano, an explosive thunder storm of emotion as the sobbing seller called the other day to pour out her heart, her life, her confusion to us over her heavily mortgaged home. She came home to find her husband in the arms of another woman while her three pre-school children slept upstairs."I trusted him...he was the last person I would have ever thought would cheat..." She continued about how she believed that they had a solid relationship and then large purchases were made without her knowledge...and what had been her fairytale life (15 comments)
divorce and short sales: Both Divorce Attorneys Know it's a Short Sale...The Realtor Doesn't
- 02/25/10 01:46 PM
We got a call from a divorcing man who was concerned about the provisions of a listing contract his divorce attorney had sent to him. He had good reason to be converned on a number of issues, He called the realtor who said she would make the changes to the contract...including that the offer only needed his soon to be ex-wife's approval and return the contract to him for his signature. No contract was returned and the property was listed. Wisconsin is a marital property state and while in the strictest sense, the listing contract does not require both (11 comments)
divorce and short sales: Short Sale Divorce....Who Knew ?...Nobody... !
- 02/15/10 10:28 PM
While we were out on appointments, we got a panic call from the mother of a gal in our sphere. Her son had been served with divorce papers, was unemployed and currently living with her and due to a physical problem was unable to find other gainful employment. His wife, at the urging of her divorce lawyer, had hired ....oh yes, Agent Suzy...to list their home. Wisconsin is a marital property state and while it is not required that both parties sign the listing agreement, it is "usual and customary" and it IS required that both parties sign the offer. Son (15 comments)
divorce and short sales: When Happily Ever After....Is Not...
- 11/14/09 10:28 PM
Divorce can be one of the reasons that people sell a home...and can also be the reason for a short sale. The house that was larger when more children lived at home...the dream house that could only be supported by two incomes...the rate that adjusted....a combination of circumstances not only leads to the end of a relationship with husband and wife...it is the end of either member of the couple being able to stay in what had been their primary homestead. The decline in values in the housing market can sometimes mean the dream house, larger house is no (9 comments)
divorce and short sales: Short Sales and Divorce...
- 11/01/09 02:24 PM
Since a part of our practice is devoted to short sales, divorce can be one of the situations we find prevalent. It can be that the lack of finances due to unemployment or underemployment has put a strain on the family's finances. Often, one member of the couple "knows' that if she/he just asks one more realtor....they know the equity they imagined...they wanted, they needed to start over will be there somewhere....after all the "assessment is....the appraisal was....they got the home equity loan for...so it HAS to be true....that same bank that gave them the loan can't now say (6 comments)