Market Overview

Closer Look at the Correlation of Southern California Divorce and Foreclosure

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Wedding season is a constant in Southern California, with moderate temperatures and clear, blue skies allowing the wedding bells to ring all year long. As two people vow their love to one another, many guests cannot help but wonder if the marriage will last happily ever after. With over seventy percent of SoCal marriages ending in divorce, and half of them ending in the first 10 years, many guests may even wonder if the marriage will live to celebrate its first decade. In any case, premature divorce is not the only alarming dissolution which is on the rise in Southern California. It's running mate, home foreclosures.
 
"It's no secret that divorce is a dilemma for many families in California," says Abed Asghar, CEO & Founder of Abed Buys Houses, a local real estate investing and purchasing agency. With both divorce and foreclosures above the national average in Southern California, it leads us to ask… Does divorce lead to foreclosure? Or does foreclosure lead to divorce? "The financial problems that lead to foreclosures often result in tremendous stress for couples who own together. Which in turn, leads to strained marriages," says Abed. It is no surprise, then, that the leading cause of divorce in American marriages, is financial distress.
 
"There's another side of the same coin, however," claims Abed. "I have handled countless foreclosures that occurred after couples finalized their divorces. Believe it or not, many foreclosures come after a marriage is dissolved due to other issues." Abed says that many homeowners will remain in good standing on their loan leading up to the divorce, but as the separation and ill feelings progress, things take a turn. "I've worked with individuals whose ex's have literally abandoned their responsibility of the loan, out of hostility and contempt for the other person. This leaves one owner to scramble to find a way out of foreclosure."
 
Having purchased nearly one thousand houses for cash in Southern California, Abed and his team toil to save homeowners who are dually affected by divorce and foreclosure. "Real estate is the last part of society that you expect your marriage to have an effect on, but in fact, the high divorce rate in Southern California only adds to our increasing number of defaulted home loans and higher interest rates. When we take the stress of looming home payments off the shoulder of a person undergoing divorce, and allow them to walk away with cash in hand, we are facilitating a new future for them."

If you or someone you know, is at risk of foreclosure, or for more information: Visit www.Abedbuyshouses.com or call (949) 436-0650
 

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