Laurel Starks - Divorce real estate specialist

Divorcing the Mortgage

As this year winds down, we remain in the thick of a turbulent real estate market.  Just as many questions and uncertainty abound as there were same time last year.  We are still standing, and we have survived - but the work goes on.In my Divorce Real Estate practice, I have seen several trends lately that have me quite concerned:Throwing the House out with the Bathwater:  It's no secret that all too often, the struggles and overwhelming impact of divorce diminishes the parties... READ MORE Posted November 23, 2010 at 12:25 PM

Divorce and Timeshares

When going through a divorce and dividing assets, often we see Timeshares as a liability instead of an asset.  Often, this is because there are maintenance fees that can be hefty - due every month, and because the values of timeshares have significantly decreased.  In fact, many are only worth pennies on the dollar. Some timeshares (most, probably) are considered "real property" and have a Grant Deed that declares ownership.  If there is an unpaid loan encumbering the timeshare... READ MORE Posted November 23, 2010 at 12:25 PM

Divorce and Strategic Defaults

In Vogue:  Strategic Defaults They're all the rage.   In 2005, Homeowner Harry maxed out the equity in his home.  He refinanced and took cash out - paid off his credit cards, took the family to Hawaii and upgraded his kitchen.  He now owes $500,000 and the house across the street just sold for $250,000;  Harry's house payment is $3,500 and his new neighbor's is $1,600.  And this scenario repeats itself at every third house on Harry's street over the next 2 y... READ MORE Posted November 23, 2010 at 12:23 PM