I want a divorce, but our house is underwater. How do we handle this?

If you want a divorce, but your house is under water, the value of that house, in your particular case, a negative number, will be placed on the equitable distribution sheet in either the husband's column or the wife's column. Or that debt will be divided equally. In the equitable distribution, any asset or liability acquired during the term of the marriage, is part of the equitable distribution of the party's assets and liabilities. Therefore, the negative value of the house should not prevent a party from getting a divorce. It is simply one component of the assets that are to be distributed in the divorce.