Home Equity in Divorce
There is no question that these are dark times for homeowners in Florida. Hundreds of thousands of homeowners across the state are either delinquent or "underwater" on their mortgages, meaning that they owe more to the bank than what their property is worth. The impact of the housing crisis extends to divorce proceedings.
My name is Alan Robert Burton, Attorney at Law. If you are thinking about filing for divorce and are having difficulty deciding what to do about your home, contact my offices in Palm Beach County and Broward County to learn more about what your various options may be regarding your home equity in divorce issues during a free informative and confidential initial consultation.Fort Lauderdale Property Division Attorney Handling Underwater Mortgage Issues and Other Debt Problems
In a divorce, all assets and debts are subject to equitable distribution. In situations where a home is "underwater" or in foreclosure proceedings, the property distribution process becomes a matter of debt distribution rather than asset distribution. In these situations, I will try to obtain a result that mitigates further damage to your financial situation. I have more than 35 years of legal experience, and I am often able to seek creative solutions to difficult situations.
In other cases, you may simply want time to work out a solution with your lenders. If you are facing foreclosure, a lawyer can be instrumental in raising defenses that can lawfully delay or stop a foreclosure action altogether.
As a result of the recession, it is also not uncommon for one ex-spouse to stop paying debts he or she agreed to be responsible for in a divorce agreement. If your ex-spouse's creditors are now seeking payment from you, you have options available to you in order to protect your interests. You can add your ex-spouse to any lawsuits you are facing due to his or her failure to pay debts that are part of the divorce agreement.Contact Alan Robert Burton, Attorney at Law
Call or email my office to schedule your free initial consultation. Call 954-229-1660 or my cell at 954-295-9222. I have offices in Boca Raton and Fort Lauderdale, and maintain flexible office hours to discuss your family law issues.