What Does It Mean To Be Underwater On Your Mortgage

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An "underwater" home or mortgage is when you mortgage balance on the home is higher than the fair market value of the home. This situation prevents the homeowner from selling the home unless s/he has cash to pay the loss out of pocket.

An "underwater" mortgage is when the balance of the mortgage loan is higher than the fair market value of the property. This type of situation became common following the housing market crash that occurred in the late 2000s when many homeowners saw their homes lose a considerable portion of their value.

Equity Line Of Credit Vs Mortgage home equity loans and helocs (home equity lines of credit) are two versions of the same type of loan but with some major differences. Both are secured by the equity in your home, but the way you borrow money and calculate your loan payments are completely different.

Being underwater in a mortgage means simply that the total debt secured by a property (e.g., the total value of all mortgage loans), exceeds the appraised value of that property. Being underwater indicates a negative equity position.

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Being underwater means, as a homeowner, you owe more on your mortgage than the house is worth. With the current economic issues, they (CNN Money) say one out of five homeowners are in this situation.

Underwater mortgages make it difficult for property owners to sell their homes. Now if you’re underwater on your mortgage but are managing to keep up with your payments and don’t have any immediate.

Freedmont Mortgage CEO Carl Delmont explains the good and bad of today’s mortgage climate, including what it means when you’re upside-down on your home investment.

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An "underwater" mortgage is when the balance of the mortgage loan is higher than the fair market value of the property. This type of situation became common following the housing market crash that occurred in the late 2000s when many homeowners saw their homes lose a considerable portion of their value.

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