Yahoo Life Films
Marriage ends in divorce… and foreclosure: ‘We did not have property to break up. We had credit card debt to split.’
Jenny D., a community data officer, believed she and her now ex-spouse were purchasing a home they could afford to pay for when they moved from the Midwest to a suburb outside the house of New York Town.“We assumed we have been producing an expense,” Jenny tells Yahoo Lifetime.But involving a work decline and rising loved ones, the pair discovered on their own “kind of underwater” and residing paycheck to paycheck, with mounting credit card debt and neglected home loan payments.“My biggest income oversight was probably assuming that I was generally heading to make or have the total of dollars that I believed I would,” Jenny states.“It was not like we at any time thought we bit off more than we could chew,” she recalls. “It just was that daily life took place, and then income stopped coming in and it was like, ‘OK, wait a minute. We’re residing way outside of our suggests in this article. How are we gonna resolve this?’”They stopped building mortgage payments, and by the time the lender foreclosed on their household, their complete personal debt — in between the mortgage and credit playing cards — amounted to $550,000. Jenny states it was “horribly embarrassing” and that she felt as well substantially shame to communicate about it — even with her spouse.