Not children, not values, not social obligations and not good emotions are strong enough to keep together a couple who decide to part. But fall in real estate prices seems to be doing what no other reason seems to have done in the present times! It is keeping couples together – at least for the time being! Last year, as reported by the National Marriage Project the rate of divorce fell by 4 % in comparison to the year before when it had risen to 7 % in 2007. This might seem like good news to all those who want families to remain together rather. But just wait, this fall in divorce rates is not indicative of couples wanting to remain united in the true sense of the word. They might be actually waiting for a more favorable time to file their divorce petitions. But, I sincerely wish that the delay helps them to reconcile and stay together.

Joint property is a major asset of many couples and the issue of liabilities regarding the property arises when they decide to part. The value of homes is much lower than what it used to be about a year and half ago. Many couples have not completed paying up for the houses that they’ve bought. But the prices at which they bought the houses were higher than the current value. The mortgage rates are consequently higher which makes it difficult for the couple to afford at the present times especially if they think of splitting because even if they sell the house they will not get the original cost price with which they can pay back the mortgage. Also many a time, the division of the monetary returns turns out to be an issue with hassles.

To overcome the problems that are posed due to divorce, many couples are opting to share accommodation even though they decide to split. They divide the liabilities amongst themselves. One of the biggest dilemmas that most couple intending to split is about retaining the family home or selling it. One of the partners qualifies for refinancing the home. If the house is not being sold, then the spouse who stays in the house has to refinance the mortgage. This is the only condition under which the other spouse is allowed to vacate the house. If both are a liable, then if one is not able to refinance the loan the other is liable to pay even if he/she does not stay in the house anymore.

There are some of good options that couples about to get divorced can consider. Firstly they can think of postponing the sale of the asset till it fetches a good value. The partner who moves out of the house will not be eligible for another mortgage until the current one is cleared. He needs to stay in a rental home till the home is sold or the mortgage is cleared. Secondly, the couple could rent a home rather than buy one. This will save the money paid up in mortgages. The last option, though not profitable can turn out to be the best option at times as no fuss is involved. You accept the loss and move out. The buyer may also bear the entire loss and offer to pay up the mortgages.