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divorce property division | Chicago Illinois Family Law Blog

Housing Market Crash Causes Problems for Divorcing Couples

By Nottage and Ward on February 6, 2012

The real estate market crash made and still makes life difficult for homeowners across the country. House values have plummeted and people are left with loans that are worth more than their homes, making it nearly if not completely impossible to keep up with expensive loan payments or even to sell. According to a Yahoo! Finance article, approximately 3.5 million homeowners are behind on their mortgage payments while another 1.5 million have already begun the foreclosure process. In the next two years, it is estimated that there will be 3.6 million foreclosures.

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Man Wins “Wheel of Fortune,” Wife Divorces Him: Who Gets the Money?

By Nottage and Ward on February 17, 2011

The Columbian reports that one couple’s divorce in Washington state has been complicated by the fact that one spouse won $51,600 on “Wheel of Fortune.” Now, the debate is whether the money is community property and therefore eligible for property division under law.

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