Phyllis Harb - Realtor
Realtor Phyllis Harb speaks candidly, even when the truth is hard to accept, about the four ways a house gets split in a California divorce, and why "winning" the house can leave you cash-poor.
What Happens to a House in a Divorce?
In California, the house gets split one of four ways: a buyout, where one spouse pays the other their share of the equity; a sale, splitting the proceeds; co-ownership, where both spouses keep the house, which is rare and usually messy; or an offset, where one spouse keeps the house and the other gets equivalent value in other assets. Realtor Phyllis Harb walks through all four on this episode, and which ones actually hold up in today's market.
Is Keeping the House After a Divorce Worth It?
Not always, even if it feels like winning. Taking on a mortgage that eats 60-70% of your income leaves you house-rich and cash-poor: no room for maintenance, no savings, no cushion for an emergency. Phyllis compares it to being starving while locked in a grocery store, surrounded by wealth you can't actually touch.
Don't miss this crucial episode! Tune in to discover how you can protect your future homeownership and emerge from this difficult situation stronger than ever.
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Reference our in depth FAQ’s on divorce and “What to do when you are first filing for divorce?” And a deeper dive into what to do with the house during a divorce.