Divorcing Couples Can’t Separate in Today’s Economy

Boynton Beach, FL, January 18, 2009 --(PR.com)-- Palm Beach County home values have declined since a high in January 2006 by 60%. Some 75% of all homeowners within in the county owe more on their homes then they are currently worth and this is having a serious negative impact on couples considering or in the process of divorce.

Three years ago if a couple wanted to get divorced and owned a home they would list it and a day later have multiple offers. Three years later the offers have dried up and homeowners are seriously upside down. This not only impacts their ability to divorce and separate, but also their ability to pay their legal fees. In the past couples often paid their attorneys from the proceeds of the sale of their home. No longer an option.

To make matters worse these same homeowners have lost upwards of 40% of the value of their retirement accounts, a onetime source of funds to pay their attorneys fees as well as to pay off or down joint marital debt.

What are couples to do? The Certified Divorce Planning Professional Institute, a firm located in Coconut Creek Florida and Founded by Jonathan Klein, CDPP, CMPS assist individuals or couples in the process of divorce. CDPPI helps couples separate and divorce in this situation by first negotiating with the couple’s lender to enter into a forbearance agreement, a temporary halting of mortgage payments, freeing up cash and allowing the couple to separate and pay its legal fees. If this isn’t enough CDPPI will negotiate with the couple’s other creditors for a similar agreement. Finally, with market conditions the way they are and homes not selling, even through a short-sale, CDPPI will negotiate a loan modification allowing one of the couple to remain in the home.

To learn more about the services of CDPPI you may contact Jonathan Klein at (561) 212-9226 or by e-mail jk@cdppi.com

###