A new Cause for Short Cause for Short Sales...Your Spouse !

By
Real Estate Agent with EXP Realty 414-525-0563 57026-90 Broker

  Three times in the last week and half we have been approached  to short sales....soooo we diligently do our homework and initial interviews to see if a short sale is indeed the "best fit" or the only answer for the distressed home seller.

    In each case, the "trusted spouse" who had traditionally handled the family finances,,,was hiding the payment for the mortgage....for "start over money" to pay the divorce lawyer,,,to get back at the  soon to be former spouse. Money in the mattress There was no regard for the children....credit ratings...perhaps not realizing, or for now, caring that they were also taking down their own credit scores in our marital property state.  There was, in these cases, no understanding ofthe option of a  short sale...or the consequences of foreclosure.  No understanding by either spouse...and worse yet...little comprehension by any of the attorneys as to what would or could happen or could be prevented from happening.  "I am not a real estate attorney, " was the standard answer.   OK....so not every one knows every thing...but you would sure think there would be a basic understanding of marital property

   From the school of "Know What You Don't Know"...know enough to advise your clients....or to direct them to the proper resources before they both bare the unnecessary burdens of foreclosure. 

   To every couple everywhere....living together, engaged or married..,,,make it an open book policy....no matter how much anger, hurt and finger pointing goes on...know that you are hurting more than your ex by not paying the mortgage. If finances become impossibly tight, talk to your bank, call a successful realtor who has proven successful and verifiable short sale experience...find out your options before the mortgage payments you chose not to make narrow the choices you once had for financial resolution.

Posted by

Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS


home worth iconemail iconhome searchLinked In  facebook

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Tags:
divorce and real estate
missed mortgage payments
short sales and divorce

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
114,745
Irina Riley
American Dream Colorado - Woodland Park, CO
GRI, SFR, CNE, e-PRO, SRES

Sally and David, you have a good point there. It always make me wonder how quick people can forget their feelings and respect to each other. And unfortunately, they do not realize that they are hurting themselves too.

Feb 28, 2010 12:22 PM #1
Rainmaker
3,284,594
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

The don't know that the disrespect they are showing their ex will also be seen by their children, their creditors and the world for years to come.

Feb 28, 2010 12:26 PM #2
Rainer
321,367
Russel Ray, San Diego Business & Marketing Consultant & Photographer
Russel Ray - San Diego State University, CA

When it comes to money, otherwise normal and loving people will do things that are not normal and certainly are not loving. Just watch Judge Judy, Judge Joe Brown, Judge Mathis, and the many other judge shows to see what money does to people.

Feb 28, 2010 12:28 PM #3
Rainmaker
3,284,594
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Now see...winning the lottery would only improve my already shining personality !

Feb 28, 2010 12:56 PM #4
Rainmaker
1,854,249
Jay Markanich
Jay Markanich Real Estate Inspections, LLC - Bristow, VA
Home Inspector - servicing all Northern Virginia

Wow, we have mattresses all over the house!  Should I start checking?

Feb 28, 2010 08:52 PM #5
Rainmaker
3,284,594
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

You can never be tooo careful Jay.....better yet...we have financial meetings every week....plan, save, spend and we are both on the same page.

Feb 28, 2010 10:23 PM #6
Rainmaker
594,825
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

I've found sometimes you have divorce attorneys telling their clients to squirrel away money!

Feb 28, 2010 11:40 PM #7
Rainmaker
2,122,565
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

No matter how bad the relationship, the most important thing to keep in mind is the children.  If only more people could remember this.

Mar 01, 2010 01:31 AM #8
Rainmaker
3,284,594
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

It gets to be that revenge takes over their brains....and everyone else is of no consequence...even themselves.

Mar 01, 2010 02:06 AM #9
Rainmaker
1,240,087
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Sally and David:  With the economic downturn comes stress.  Stress (especially financial stress) can cause marital problems.  Marital problems cause people to do things they would not have dreamed of doing prior to their economic troubles.  I learned long ago when working in the S&L, that people get the most emotional and unreasonable about two things.  Their "better half" and money.  Mix the two issues together?  You have just described some of the damage done and results seen ...

Gene 

Mar 02, 2010 04:43 AM #10
Rainmaker
3,284,594
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

True enough Gene...lots of emotion...not sooo much money...mix in a little anger and resentment...and Poof !

Mar 02, 2010 05:33 AM #11
Rainmaker
3,284,594
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

True enough Gene...lots of emotion...not sooo much money...mix in a little anger and resentment...and Poof !

Mar 02, 2010 05:33 AM #12
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
3,284,594

Sally K. & David L. Hanson

WI Realtors - Luxury - Divorce
For All Things Wisconsin Real Estate...Call the Hansons
*
*
*
*
Spam prevention