Help for Upside Down Mortgages

So many of the couples who I’ve been working with lately are finding themselves upside down on their mortgages.  For those of you who aren’t familiar with the term, being ‘upside down’ means that you owe more to the lender on your mortgage than your home is currently worth.   The refrain I often hear is…

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Duration of Divorce Mediation Process

I am often asked how long the process of divorce mediation takes.  There are many different models of divorce mediation.  Many mediators use the same hourly billing method that traditional attorneys use.  The problem with that from a time line perspective is that the case can drag on for an indeterminable period of time similar…

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New Credit Rules – Household Income No Longer Counts

This week I learned about a recent change in the law that will affect divorcing couples’ credit and their ability to move forward financially.  In a nutshell, as of October 1, 2011, instead of household income, only individual income will be considered for establishing credit.  This means that a stay at home mom is going…

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The DROP (Deferred Retirement Option Plan) Loophole

We’ve all been hearing about the DROP controversy in Philadelphia.  (It’s happening in New Jersey as well.)  Well, what is it and what’s the latest?  DROP stands for Deferred Retirement Option Plan.  What it has turned into is a loophole for city employees.   According to the Cabrini College Locquitor, “Elected officials are con­sidered city employees…

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How to Talk to Children About Your Divorce

One of the most significant concerns that couples with children face when they are approaching divorce is how to tell their children about the impending divorce.  I generally suggest that they consult with a professional counselor for guidance, and I frequently meet and speak with therapists so that I can provide my clients with a…

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