What would be a fair property settlement in a divorce where you owe more than the house is worth?
June 7th, 2009
The title and mortgage is in my name. We owe $550K and the house is worth $350K - needless to say that we are very upside down. I want to keep the house and remain living there. The other option would be to foreclose but, then we are stuck with the difference, which neither of us can pay and I know she won't pay it so, I would have to.
What is a fair settlement in this? This is the main sticking point to the divorce.
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