Divorce in a Bad Economy

Certainly all the current economic woes have an impact upon our divorce plans.  I haven't filed  yet, but was hoping to do so this fall.   The current climate has scared me .. along w other news I have heard . in my research.  I don't want to wait 3 yrs or so.    I fear my ability to start a new life as I get older and older.

I am not in as good shape as 2much42long .. we have a mortgage & debt.   But, i do have a really good income and could afford to live on my own somewhere .. in this house or elsewhere.   No current dangers of foreclosure.    I do fear having enough income or savings to get my last son thru college .. but I am determined to find a way.   This is a definite part of what holds me back .. findng the right way.

If I wait until then though .. I will be too old to find someone new and start a new life . this wouldn't be fair to myself.

Such dilemmas .. I anticipate them daily !

Thanks for your replies, everyone.

Lynn, if you want to know why I'm waiting, read my blogs.  It all goes back to a stupid "deal" my wife requested to stay until #2 son graduates from high school.  It was a bad deal, but I agreed to it, and I'll see it through.  It's just who I am.  (And she called me "dishonest".)  Everyone here thinks I'm crazy for waiting, and they're right, but I've already hung on for 9 years...what's a few more months?

We're fortunate that our mortgage is paid off, and we have very little debt.  I'm hoping that will make things easier.

My question to you is, why are you waiting until next year? I agree with what everyone else has said. The majority of your assets are in your home. And well right now its not much. We owe more than what our current home is worth. Currently I am residing in the home with the children while my stbx has moved out. I am trying to work with my mortgage company in lowering my payment in order to stay in the home and avoid foreclosure. If the payments can't be lowered we will have to foreclose, I really don't want that to happen.

most attns say that the "average couple's" (whoever that is) only real asset is thier home.  if the economy stays down, home values decrease/stay low, its harder to sell (fewer buyers) and the bulk of your savings is tied up in the home....

We lost thousands in the 401k and stock options this week.  Our house has lost $20K in equity over the last 3 months and it is bound to be that way (if not worse) for at least the next 6 months.  I lost my job so we are living 2 households on 1 income.  I can not seem to find a job, no matter my efforts, and am told it could be a long wait until I do. 

The only bright side is that since now I am unable to either move or pay my mortgage, I am told it will take 9 to 12 months before they foreclose on my house.

Hi!
The only impact it's having on my personal divorce is the cost of the house and resulting equity.

That's what I'm hearing from many. The price of the house and the equity in it, and the 401k's and their values.