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One Of The Leading Causes Of Divorce Can Be Financial
One of the leading causes of divorce can be financial — is an interesting blog topic from our preferred mortgage lender, Dan Tharp at Guild Mortgage. — JaCi Wallace
One of the leading causes of divorce can be financial. When a couples’ financial situation fails to measure up to expectations, and money stress gets so bad, they shut down. The communication between them often stops completely.
I have helped many couples obtain a mortgage to buy a home. They were laughing and smiling about the garden they were going to plant, or the BBQ they were going to invite me to. Only then to see one partner lose a job, then bills pile up. Next is the anger and the uncertainty starts to build. The next thing they know they are sitting down to talk about separating. It’s just plain awful.
As a mortgage planner, I educate my clients on “how to” buy a home and all the good stuff that comes with it. We also talk about the “Marriage Killer ” that could be lying in wait after the ink has dried on their mortgage documents.
I have seen first hand the pain and pure anguish from a once happily married couple, now facing this fight over money and their marriage. I used to avoid this topic in my early days to keep the mortgage experience light and positive. Now, my tune has definitely changed. I raise this uncomfortable topic as often and early in the process as possible.
Excellent clip from Jillian, a member of Inspirus Credit Union, speaking directly to this issue. She talks about a few simple tricks to help you zap the Marriage Killer. At a minimum, sit down with your partner and watch this video together. I am sure it will elicit some discussion about your current finances and future goals for retirement. Trust me, times are tough now for many folks, and the last person you want out of the loop – is your partner.
Please call Weintraub & Wallace with RE/MAX Gold if you are in need of a Realtor. We are also experienced working with divorcing couples and the attorneys when selling a home. We can help and be reached at 916-233-6759.
–Dan Tharp
Home in South Land Park Sold With Multiple Offers
This home in South Land Park sold quickly with multiple offers.
This cute cottage home in South Land Park sold with multiple offers and closed escrow on Friday. The sellers, like most homeowners, had all sorts of concerns about why their home might not sell. They worried about things that most people never worry about, and some they do. Like a dripping faucet. Yes, if a faucet drips, it should be fixed. I know we all get busy and can’t always attend to small things but small stuff turns into big stuff, I lecture, er, remind them. They laugh.
The sellers called me because I listed and sold another home in South Land Park at 1407 Carrousel Lane, not far from their house. By the time they toured the home on Carrousel, they could only enter a backup offer because it was pending. Basically, a seller has options in this market when they want to sell a home and buy another home, but trying to buy on a contingent basis is one of the most difficult. I explain it this way: just think if this was your home and you received 3 offers. Two were from buyers who did not have to sell a home in order to buy yours. Which offers would you consider?
When the shoe is on the foot, it makes sense. It’s not impossible to buy contingent, and we do it, but you might not get your first choice in a seller’s market, is all I’m saying. So while I’m going through the seller’s home, taking notes, completing my agent visual inspection, the sellers are sharing all the things they don’t like about the home. I steer them away from that conversation, just in case they tell me something horrible that I’ll be forced to disclose to the buyer, which I obviously do not want to do. Instead, we discuss all the wonderful attributes about their home, the pluses, the emotional pull it will have on other buyers.
This is the problem with studying the market too much as a seller. You start to pick up on the negative vibes and those thoughts take over, consume you, and that stuff begins to color your viewpoint.
I introduced the sellers to my extraordinary team member, Josh Amolsch, to help them to find a home to buy. After meeting with Dan Tharp at Guild Mortgage, the sellers discovered they did not have to sell their home in order to buy. This freed them to make a strong offer on a home in the Pocket, and they won that bid. They bought a home across from one of the last buyers I ever worked with before I switched to seller representation.
The home in South Land Park quickly sold. We chose a full-price offer, all-cash, no appraisal contingencies. That was the sellers’ biggest worry, whether the home would appraise, and with their winning offer, that concern was eliminated. It was a nice, smooth, easy escrow for a change, thanks to the wonderful agents who represented the buyer.
I thought about this closing yesterday when I visited another seller in South Land Park whose home will be ready for the market sometime in the next year. When I studied the comps for the seller, I noticed a different home in South Land Park that was listed by an agent from out-of-area, and realized this was a home I was supposed to list. At the last minute, that seller had canceled her appointment with me because a friend of hers introduced her to a “most wonderful listing agent.” Wha? Was I chopped liver? I forgot about it until I saw the home had only a couple of photos and no showings without calling the agent. Hmmm . . .
That’s OK, I’ll list the other home in South Land Park and be happy. This is a great market, and it’s a good time to sell. I’ve learned that a positive attitude will take you places others only wish to go.
