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Divorcing the Mortgage Crisis

Lately we have all heard about the mortgage crisis. If you have not then you need to read up on it at some point. One thing that we love is when people, who are experts, jump all over the mortgage crisis and then say that the crisis will cause other crises just like the current one. Well, today we come in contact with a theory that the mortgage crisis might actually be causing divorce! Is this something that needs to be feared? Let's take a look at what some of the people are saying about this situation. This is something that could be serious.

A Rise in Divorce Sales

Lately there has been a rise in the number of home sales that have come about because of divorce. Meeting their mortgage payments have been something that have caused some trouble in many people's lives. The money struggle is very serious and this is something that people should never want to face in their lives. Divorce home sales are very tough to handle sometimes. This currently has shown that it might not be a coincidence, and more likely be related to the current thought of mortgage crisis.

Why is This Causing Divorce?

Well, these couples are facing troubles. They are deciding that it is a very constructive practice to blame each other for their struggles! They don't decide that they will try to fix the problems, but decide separation is easier. Then these people have trouble deciding what to sell the house for! It seems like a never ending, vicious cycle. All this blaming of each other can lead to much more anger being thrown around. In the end all this results in another home being placed on the market.

What Can We Conclude From This?

While this could be a very serious issue it is more likely to become clearer within the next few months. This might be a trend, but it also might not. One thought is that the relationship was headed from a downfall and all it needed was a little money troubles to push it over the edge. These people have probably thought about it before and needed a reason. It is very unlikely that a happy couple goes straight to divorce within a day because of this.

Well then who is too blame? Simply put, they both are! They were the ones who got into this mortgage, and they did it together. A lot of people who are feeling the heat from their mortgage did not put in the time or effort to figure out if they could really afford this home. Many people just jump into it without even giving it much thought. This is why you need to take the time and really assess what is going on in your life personally and financially. Money troubles are not something that you want to face, but you need to give yourself a fighting chance. It is not quite clear how mortgage trouble and divorce are working together, this will take a few months. In the mean time you need to assess the mortgage you want to get before you sign on that dotted line. Hopefully this is something that will not affect marriages in the future. It is so important that you put yourself in a position to succeed.

National Rate Averages

Mortgage Rates

Product Rate
5/1 yr ARM 3.147%
1 yr ARM 3.299%
15 yr fixed 3.221%
30 yr fixed 3.815%

Home Equity Rates

* Updated Jun 8, 2012