STAYING TOGETHER FOR THE HOUSE

Some divorcing couples realize they can’t afford to live apart until they sell their home. “Unless you have lots of equity or really good credit, it’s tough,” says Robert Loss, the owner of Comprehensive Mortgage Co., a Boston-area firm that handles referrals from divorce mediators. “Some people are just forced to financially stay where they are. Some people are not able to do anything.” Kathryn O’Brien, an associate with RE/MAX Country Crossroads on Boston’s North Shore, who specializes in divorce situations, finds herself in the middle of these acrimonious situations frequently these days. She says the appearance of co-habitation can actually be a big advantage, even if it is painful for those involved. Buyers sniff around for signs of a seller in distress, with divorce being a big red flag, and “if they feel that the seller is in trouble, they’ll come in with a low offer,” O’Brien says. “Buyers are so savvy now — they will go into the closet and see if the husband’s clothes are in there. I’ve seen it over and over again.”

Source: The Boston Globe, Lisa Prevost (06/20/08)
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