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Question:

What to do in case of negative equity on home loan during divorce?

The home has negetive equityWife has no job due to being a stay-at-home mom, but is looking for workHusband has job, but is going to pay large amounts for spousal and child supportNeither can afford to quot;buy outquot; the otherNeither wants the house nor can afford a major repair should that happenDivorce is pendingMany things are contingent upon wife finding employmentBankruptcy is not an option as debt will still be owed and wife has no job! Any ideas?Thanks

Answer:

I'd look at how the assembley is put togetherthe wankel engine is incredibley powerfulthe 1.3 liter motor must race in classes that have 6 cylinder motors, motors that have almost twice the displacementHave a specialist rebuild the motor.
Upgrade the cooling on the carI have heard that the intercooler and radiator are really inefficient.
Sell it and take the lossChapter 7 Bankruptcy can and will eliminate the debtYou should consult with a bankrupcty attorneyThe initial consultation is usually free, and they can give you the best advice even if you decide not to file for bankruptcy protectionDon't get bankruptcy info online though, because the local rules can vary with state and localityThe Best advice I can give is: 1Put the welfare of the children first2RECONCILEDivorce is hellBTW: There is an old saw about this, I think Dick van Dike said it once in a movie: She gets the car, I get the payments She gets the house, I get the payments She gets the elevator, I get the shaft Now there is a great solution to your problem, you keep the house, and he makes the paymentsProblem solved!

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