Be careful what you wish for, you may get it.” This adage is particularly true when one spouse seeks the marital home during a divorce. While the marital home may be the single most valuable asset of the marriage, it is also associated with debt, maintenance and other carrying costs; without sufficient income, the costs of home ownership could burn through a party’s savings.
In the current economic environment, the marital home may not be a desirable asset. Traditionally, the marital home was viewed as getting money in the bank; pay the mortgage and related expenses for a couple of years and you could cash out with a large profit. However as Forbes contributor Marcelle Sussman Fischler points out in her article House Regret: Among Divorcing Couples, The House Is Now A ‘Hot Potato’, the marital home is now is viewed as a an albatross” that is sinking in value.
Please see full article below for more information.
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