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Our next guest is the lovely and Vicky Ziegler a celebrity divorce attorney in -- CEO of divorce dating dot com.
Your house is your most importing invest -- for many people and -- -- were saying.
And where you how do you go about figuring out who gets what to sell to split what we need you right we'll hopefully people are -- apparently planning that's -- I wrote my book the premarital planner if.
They did in and -- okay we're just knowing it we buy a house together there is some Equity One person says I want out of the marriage and what happens the question becomes.
If -- -- so there is in this example.
Who wants the house who can afford to stay in the house that gets little complicated with the bread winner who's not in the nine -- is gonna -- in the -- going to be enough support.
To make sure that you can maintain a mortgage component and it taxes and then maybe start off the equity not pay out the equity.
For a period of time.
Or if somebody wants actually sell the properties say OK -- I want to sell the property within thirty to sixty days we'll split the equity that's the easy way out.
Unfortunately it's not always easy people are getting divorce left turns to hate and we can't just sit down -- -- room most of the time and do a handshake.
So if two parties are actually fighting over property which is one of my favorite things.
We basically -- -- right of first refusal and get an appraisal we -- -- the property's worth a million dollars.
Out wife if you can come up with a million dollars a fair market value.
Offer and you combined no problem and the husband's is -- I want it so I'm an offer a 1000001.
OK -- million dollars and one dollar.
They and I -- -- high one night and I let my hair like that hangs it anymore.
And then it's who can really -- -- the other person so this becomes really problematic in the narrow residents usually is the party's biggest asset to everybody's fighting over but isn't inches and memories.
Well I always say that most people in the U lived in his bedroom yeah I would think you had intimate -- right right -- don't wanna start fresh.
Know people -- attacks and it's mostly females.
Quit and I decorated proud I am writing on her Internet they got a shade they got that she's Latvia eight -- -- -- eleven -- put all of that energy in it it's what they always say you can get something better.
Better karma you know when it's time to start over but not always people -- a feeling that way and as the housing market nationally is rebounding still not healthy a lot of people still either underwater on their homes or you know -- they can't sell their -- what.
It paid for it right I -- equity which is really problematic short sales are always gonna affect people's credit so I don't -- to try to hold onto the property and hope that the real estate market in this country rebounds.
The problem is sometimes you can't afford to pay the mortgage thing you're fighting a foreclosure action so what happens in which one is like the worse of two evils right at what do you do not foreclose on the property.
Not pay it.
Affect your credit with a short -- -- people are getting these real estate experts to come on board.
With -- -- attorneys like myself to try to give them the best.
Strategy thinking and sometimes there's not enough money to go around there is no easy answer and I wish we had a panacea for all cures.
But we're problem solvers as divorce attorney so we do our best to give people the best guidance possible.
What happened -- both.
He then men and -- -- names on the mortgage and then one decides to move out and rent or buy something else something smaller perhaps but their names on that original mortgage -- extremely problematic because god -- say the wife doesn't make the mortgage payment or the husband -- -- -- -- again credit issues possible foreclosure so it takes time to refinance and recast the mortgage where that man's name would be removed.
But doesn't happen overnight it's a process banking institutions -- mean the people work is overloaded so.
Really problematic they need to wait it out.
So the easy answer and I'm sure that being that most people don't you would talk about all this before they actually -- hi my god why do you any plan of course that's the heat he need to talk about it god forbid.
Things don't work out and we do get divorced what would we do -- -- -- within 45 day and you need that in writing writing it in writing pre nup sounds like the biggest proponent amber I think 99% of the population should have won and you know what it's not romantic but it's necessary -- if you look at -- it's his -- -- -- -- -- -- -- -- this country.
It's not I asked mostly is it happens for -- hit some people need to talk about these things I mean I am okay I'm looking at your -- where I imagine how impressed you know divorce.
Married parents are divorced this is my life -- kind of went into this helping people so appetite for me you know about.
I Yankee taste -- my -- is very nice to meet you think I ending.
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