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February 2010

Table of Contents
1. February Special!
2. Make Money While You Sleep!
3. Ex-Wives Angry Over Paying Alimony
4. How Divorce Affects Qualifying for 1st Time Home Buyer Credit
5. Unmarried Co-purchasers and Home Buyer Credit
6. Free Teleclass
7. Divorce Humor
8. Thought for the Day


1. February Special!

Have you been wanting to join the niche of Real Estate Divorce Specialists? Become certified for a discount. For the month of February, you can save $200 off the price of the course. Click here to find out more.

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Real Estate Divorce Specialist Training Course

2. Make Money While You Sleep!

Just become an FDA Divorce Affiliate and you can earn 25% of what others pay for our course. Just put a link on your website or in an email. It's easy! Click here for all the details.

3. Ex-Wives Angry Over Paying Alimony

In an article by Alice Gomstyn, ABC NEWS Business Unit, she writes about the Role Reversal when wives have to pay alimony to their ex-husbands. She tells the following story:

He got their second house, an investment property she had bought in Costa Rica, and a $96,000 annual alimony payment.

She got angry.

"It's so obscene," said Holly Chiancola, 52, a Gloucester, Mass. real estate agent who is fighting the terms of a divorce settlement ordered by a judge in 2006.

You used to hear about divorced men complaining that their ex-wives were unfairly cutting into their income. Now, as more women become primary breadwinners, the complaints increasingly come from them. The number of American men receiving alimony has climbed, from 7,000 in 1998 to 13,000 last year, according to U.S. Census Bureau data

Chiancola's ex, who declined to comment for this story, is among them.
Thanks in part to the pre-financial crisis real estate boom, Chiancola earned considerably more than her ex-husband, a sometime carpenter and fashion model, during their 19-year-marriage. She said her ex didn't hesitate to take advantage of that -- even though her income plummeted after the real estate boom years, and she's now struggling to make her mortgage payments.
hiancola said she partly blames Massachusetts' "outdated" divorce laws for her predicament -- she is a supporter of the group Mass Alimony Reform -- but she's also plenty outraged at her husband.

"He went for the jugular, believe me," she said.

Aggressive pursuit of spousal support by men is becoming more common, some divorce lawyers say, as the stigma of asking for alimony fades.

"Early on, men were somewhat embarrassed to ask for alimony because it went across their defined roles in the culture. That has diminished," said Marlene Moses, the president-elect of the American Academy of Matrimonial Lawyers, an organization of family law attorneys. "There's been a revolution of men and their rights and the vigor with which they pursue legal opportunities for themselves."

It's a revolution, experts say, that has been going on for more than 20 years -- actress Joan Collins' divorce and alimony case made headlines in the 1980s -- but today, it's still catching some women off guard.

Take Terry, a 56-year-old Florida healthcare executive, who asked to have her last name witheld because her divorce from her husband is not yet settled.
"He's a very independent man, a very macho guy, and I was quite surprised that he would ask for alimony," said Terry.

4. How Divorce Affects Qualifying for 1st Time Home Buyer Credit

Even if the Court issues an order for one spouse to leave the marital home more than 3 years before the divorce is final, that spouse must wait 3 years after the divorce is final to be eligible for the $8,000 credit for buying a new home.

However, that spouse may qualify for the new $6,500 credit for prior homeowners immediately, if they have maintained the same home for 5 consecutive years out of the last 8 before buying another house. Time spent out of the home due to the court's order would count toward the necessary five years, according to the IRS.
[Kiplinger Tax Letter]

5. Unmarried Co-purchasers and Home Buyer Credit

Unmarried co-purchasers can apportion the credit any way they want, according to the IRS. So if two brothers buy an $80,000 home before May 1, 2010, but one is not eligible for the credit, the $8,000 break can be fully allocated to and claimed by the other.
[Kiplinger Tax Letter]

6. Free Teleclass

Carol Ann will be hosting a FREE teleclass for your clients who are going through divorce. It is called "5 Ways to Survive Your Divorce Financially." In addition to answering the most common questions about divorce, I promote you, the Real Estate Divorce Specialist! The next free teleclass is scheduled for March 9. Click here for more information.

7. Divorce Humor

After being married for 44 years, I took a careful look at my wife one day and said, "Forty-four years ago we had a cheap apartment, cheap car, slept on a sofa bed and watched a 10-inch black and white TV, but I got to sleep every night with a hot 25-year-old girl.

Now I have a $500,000 home, a $45,000 car, nice big bed and plasma screen TV, but I'm sleeping with a 69-year old woman. It seems to me that you're not holding up your side of things.

My wife is a very reasonable woman. She told me to go out and find a hot 25-year old girl and she would make sure that I would once again be living in a cheap apartment, driving a cheap car, sleeping on a sofa bed and watching a 10-inch black and white TV.

My wife is a very reasonable woman!

8. Thought for the Day

We don't choose to be role models; we are chosen. Our only choice is whether to be a good role model or a bad one.
-Karl Malone

Click here to read our previous newsletters


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Real Estate Divorce Specialists™
A Division of the Financial Divorce Association
Carol Ann Wilson, President
906 Cranberry Court, Longmont, CO 80503
Phone: 720-600-5134
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