Wednesday, August 17, 2011

What happens to the house that is worth less than owed in a divorce?

I am sitting on the brink of a divorce with my spouse. We currently own our home however the value of the home is roughly 100k less than what is owed due to the crash in the housing market and economy. We both work and neither of us could afford it on our own. So if we were to sell the house would we have to split the difference of what is owed? Even though i know i will probably end up with owing more than my spouse as i make more money.

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