Need Help what should I do

[Macexcel]

I just filed for Divorce.

We have about 50 K in 401K
We have about 30 K in stock.

We owe 65k on the house.. We just got back market analysis

The avg House sales is 40K.

The questions is. How do we get out of the out from under the house.
Do we split the neg equity in the house, and I keep the house, or should I let the house go into foreclose?

Thanks for you help, or is this enough info or do you need more.

John

[Scanner]

This is a tough one without knowing more. . .are there kids to be considered? That's the main thing - it's not about you or your wife. . .it's about the kids. Judges don't care one iota about your drama. . .they want to make sure any kids are to be cared for.

IF there are kids to be considered with child support, perhaps staying in the house (your wife) with the kids but you staying on as co-owner to minimize the liquidation cost. You retain the equity (neg for now) but as the loan amortization schedule increased, your co-equity goes positive.

In other words, your marriage is over but a business partnership can still proceed.

If there are no kids involved, you sell the stock to cover the negative equity, I guess.

[EEinNJ]

Sorry for your situation. I think you should get some recommendations for a good lawyer, then go for a consultation. A lawyer could help you work out a settlement. You don't have to guess at this or try to figure it out by yourself. Eventually the house will come back up in value.