Real Estate Divorce Specialist
August 2011 Newsletter
(Where did July go? It seemed to just disappear
for me!)
1. Divorce Over 50: 3 Mistakes to Avoid
2. We're in the News!
3. Buying a House While Going Through a Divorce
4. Studies Show That Real Estate Recession Is Slowing
Divorce Rate
5. Earn Money While You Sleep!
6. Free Teleclass
7. Divorce Humor
8. Thought for the Day
9. Divorce Survival Kit
10. Become a Real Estate Divorce Specialist
1. Divorce Over 50: 3 Mistakes to Avoid
While the overall divorce rate has decreased slightly over the
past two decades, for those over 50 it has doubled, according to
the latest data from the National Center for Family & Marriage
Research at Bowling Green State University. That means some 300,000
couples over 50 divorced in 2008, and if the rate stays consistent,
that number will balloon to more than 400,000 busted marriages in
2030. Paradoxically, experts chalk the increase up to boomers' affinity
for marriage in the first place. More older people are on their
second and third marriages by the time they hit 50, says Krista
K. Payne, a data analyst for the center and those are marriages
that are less likely to last.
Regardless of first, second or eighth, the stakes are higher for
couples in their 50s, 60s and 70s. By the time most people are 50,
they have a long work history, own some real estate, have a retirement
account, life insurance and more in which case, it's critical to
get the best settlement possible. "You have much less time
to recover if mistakes are made," says Jeffrey A. Landers,
president and founder of New York-based Bedrock Divorce Advisors,
which consults divorcing women. "There are no do-overs."
Here are some mistakes particularly common to the over-50 set,
all of which can lead to a lower-than-deserved settlement or make
you pay your ex more than you should.
Click
here to read the rest of this article
2. We're in the News!
We have heard from so many of our members lately, (especially Real
Estate Divorce Specialists) that they are getting incredible publicity.
Randy Morrow was on a 2 hour radio program; Paul Chase
has connected with a law firm that has 3 family law attorneys and
a radio show; Jolie Williams had a great article about her
that appeared in the Dallas Morning News.
Jolie also sent us the following: "I am now on the Advisory
Board of an organization called D.I.V.A.S (Divorcing
Independent Very Able Survivors). Since becoming a D.I.V.A.S.
Sponsor in June D.I.V.A.S. has been aired on the CW33 News, Good
Morning Texas (last Tuesday), and will be on Rodney Anderson's (lender,
author, radio show host...) radio show on Saturday morning."
These are the kind of things that will catch the attention of the
public and make this work for everyone!
3. Buying a House While Going Through a Divorce
by Gregg
A. Greenstein, Esq.
Many divorcing couples don't have sufficient financial resources
to consider buying a new home while the divorce process is happening.
But for those persons fortunate enough to have good credit and what
appears to be adequate income to buy a new house before the divorce
is final, the home purchasing process can be a rocky road.
Title Issues
Colorado law presumes that all property purchased by either spouse
during the marriage (i.e. until the final divorce decree is entered)
is "marital property. Marital property is subject to "equitable
division" in a divorce case. If the husband purchases a new
home to live in while a divorce action is pending, the title to
the new home might be in his name only. But the court in the divorce
case still has the power to order that the title to the new home
be placed in the wife's name; or that the new home be sold; etc.
This is because while the title might be in the husband's sole name,
the new home is still considered "marital property," subject
to the court's power to make orders concerning the title.
Loan Qualification
During the temporary orders period when a divorce action is pending,
the court may enter temporary orders for maintenance, child support,
debt payments, and other matters. If a divorcing home buyer qualifies
for new home financing on one day, his or her financial picture
may change dramatically the next day if there is a temporary orders
hearing allocating child support, maintenance, and/or debt. The
temporary orders are not binding on the court or the parties for
purposes of the final resolution in the divorce case, so the parties'
financial picture can change again once permanent orders are entered.
Marital Property - Increase in Value
Some divorcing couples reach an agreement allowing a spouse to buy
a new home, while the divorce is pending. However, an agreement
that a person can buy a new home, is not the same thing as an agreement
concerning disposition of the new home. In order for the agreement
allowing a spouse to buy a new home to be an agreement that truly
allows the home to be excluded from the divorce property division
process, the agreement: (1) must be in writing and signed by the
parties; (2) approved by the court; (3) contain terms concerning
the title and the equity; and (4) must be signed only after there
has been a financial disclosure exchange. Otherwise, the agreement
may be deemed invalid, and the increase in the value of the new
home could be considered "marital property" subject to
division by the divorce court.
Marital Property - Furnishings
Furnishings that are purchased for a new home are "marital
property," if the furnishings were purchased prior to entry
of the divorce decree. Consequently, the divorce court retains the
power to equitably divide the furnishings, unless the parties have
a written, signed agreement approved by the court, excluding the
furnishings from the marital property division. The agreement should
be signed only after there has been a financial disclosure exchange.
Conclusion
It is possible to buy a new home while a divorce is pending, but
the process should be carefully negotiated and approved by the court.
Otherwise, the new home and its furnishings may become another set
of assets for the divorce court to divide.
Gregg
A. Greenstein is a shareholder in the law firm of Frascona,
Joiner, Goodman and Greenstein, P.C., a Colorado law firm. His
practice areas include Real
Estate, Litigation,
Family
Law, Divorce,
and Adoption.
Click here to contact
Gregg Greenstein.
Disclaimer -- Content is general information only. Information
is not provided as advice for a specific matter, nor does its publication
create an attorney-client relationship. Laws vary from one state
to another. For legal advice on a specific matter, consult an attorney.
4. Studies Show That Real Estate Recession Is
Slowing Divorce Rate
By
Men's Family Lawyer on July 19, 2011
When economic times are tough, millions of people tend to suffer
the consequences. One of the foundational results, or causes depending
on whose opinion is sought, of the current recession is the plummeting
and suffering real estate market. When people own a home that is
upside-down in value, it can place an extreme strain on the lives
of those who struggle to stay current on a mortgage that is worth
more than the home. This strain, according to more than one study,
is leading to a downturn in the divorce rate.
According to these studies, including one published by the American
Economic Review, a 10 percent decrease in overall home prices leads
to more than a 20 percent reduction in the number of divorces across
the United States. In addition, unemployment rose between the years
of 2007 and 2010 by a factor of six percent, home values declined
by almost 30 percent when considering all markets and the divorce
rate fell by almost five percent.
Clearly, people who are already seemingly behind on their home
investments and who are struggling on a month-to-month basis are
always going to hesitate to become involved in a divorce. This process
can involve high legal fees, the forcing of the sale of a home that
is depressed in value and the additional costs of maintaining two
separate homes for the spouses and any children of the marriage.
When people are struggling financially, it forces them to forego
things in life that they want. Unfortunately, this phenomenon could
include remaining in a marriage where everyone would be better served
by moving on. Fortunately, there are options available for a solution,
and these options could include negotiated divorce settlements,
divorce mediation and other types of approaches designed to provide
a cost-effective and efficient dissolution of a marriage.
5. Earn Money While You Sleep!
Do you want to earn extra income while you sleep?
Become an FDA Divorce Affiliate!
http://www.fdadivorce.com/affiliates/
All you need is a website, and you can start making money in your
spare time today!
How much money can I make?
You can sell all FDA Divorce products through your website or email
contacts and receive 15% commission on each sale. For example, on
our best-selling products, you can earn about:
- $130 for each Certified Financial Divorce Specialist Training
Course
- $60 for each Real Estate Divorce Specialist Training Courses
- $14 for our Divorce Survival Kit
One of our affiliates earns money every month from a link he put
on his Active Rain real estate professional website. He put his
special affiliate link on once, and earns money automatically anytime
someone clicks on his link and purchases a product from FDA Divorce.
This is an excellent way to make cash, with very little work. We
all have a website, why not use it to make money on the side by
promoting FDA products?
What is Affiliate Marketing?
If you are not familiar with Affiliate Marketing, it is an easy
way to generate extra income from home using the Internet. When
you become an FDA Divorce Affiliate, you are given access to our
Affiliate Marketing Center, which contains special links and banner
ads that are unique to you. You post these links on your website
or blog, send them in emails to your real estate contacts, or use
other methods to advertise our products. When someone clicks on
one of your unique links and ends up purchasing an FDA Divorce product
from one of our websites, you get a commission on each sale. We
give full support to our affiliates, so if anything is confusing
or doesn't make sense, we are there to help!
Signup as an FDA Divorce Affiliate is FREE. The potential to make
money is unlimited. You do the promotion, and we do everything else
(order processing, shipping, customer service, etc.) All you need
is the desire to make money on the Internet with very little effort.
What could be easier than that?
Sign up here to become an FDA Divorce Affiliate:
http://www.fdadivorce.com/affiliates/
Please let us know if you have any questions.
6. Free Teleclass for Divorcing People
Carol Ann will be hosting a FREE teleclass for your clients who
are going through divorce. It is called "5 Ways to Survive
Your Divorce Financially." The next teleclass is Tuesday,
Aug. 9, 2011. Click
here to enroll.
7. Divorce Humor
An ex-spouse is like an inflamed appendix. They cause a lot of
pain and suffering, but after it's removed you find you didn't need
it anyway!
8. Thought for the Day
Argue for your limitations and they're yours.
-- Richard Bach
9. Divorce Survival Kit
The Divorce Survival Kit is the ultimate divorce resource
for your clients. To find out more, go to
www.DivorceSurvivalStore.com. I personally guarantee that your
clients will save thousands of dollars in your divorce as a result
of having the information that they receive in the Divorce Survival
Kit.
10. Become a Real Estate Divorce Specialist!
Become the real estate broker of choice for divorcing clients!
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