The Solution To Foreclosure & Divorce

Hi Paul,

My wife and I are getting a divorce – we live in the state of Maine.  The problem is neither one of us can afford the mortgage payment alone.  With the market dropping out we owe more than the house is worth.

We are currently up to date on our payments and the house has been on the market for 4 months with no offers.  We have been given different advice about short sales.  One person recommended dropping the price by $10,000.00 every 2 weeks.  Others have said we should stop making payments.  Not to thrilled about that one.  I’m concerned about taking the hit on my credit score plus the fact I’m not to excited about not keeping my word and making my payments. 

I have yet to talk with the bank and don’t know if I should that yet.  Any help you could give would be great.

Peter

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Hello Peter,

Well, not everyone likes my advice, but I always have the same advice for married people – stay married. 

Thanks for the questions and hope this helps.

Paul

Mat 19:6 Wherefore they are no more twain, but one flesh. What therefore God hath joined together, let not man put asunder.