Divorced And Can’t Sell Your Home – Corporate Housing May Be the Answer

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Published Date: 2011-08-02

In the TV Land series, Happily Divorced, starring Fran Drescher, the characters are forced to continue living together even though they are going through a divorce because they can’t sell their home.  Even though this is a television show, there is some truth to the situation. Divorced couples are faced with tough choices when it comes to moving on and dividing up property. In the current housing market, some separating couples are finding it difficult to sell their homes quickly and do not have the financial freedom to carry homes or move into new houses before the divorce is finalized. An option for divorcing couples is to turn their marital home into a corporate rental.  Corporate housing is typically used by business travelers and relocating families. Properties are rented out on a month-to-month basis giving homeowners the flexibility to continue to keep their homes on the market, while receiving a monthly income to cover the mortgage. This is exactly the situation Kinsey Hamilton found herself in recently.  When Hamilton separated from her husband, he moved out and the house became her financial responsibility. “I put the house on the market and couldn’t sell it,” Hamilton said. “Every month I lived in the house it became more of a burden.  A friend suggested I rent it furnished so I could cover my mortgage and HOA fees.” Soon after she signed up for an account with Corporate Housing By Owner. She explained the service acted as her personal advisor and helped her through the business of being a landlord. The very next day she had a signed lease. “I’m extremely grateful for CHBO and that I was able to rent my home and ease the stress of an already stressful situation.”