An upside-down mortgage is simply a mortgage in which the owner owes more than the house is worth. If you can afford the monthly mortgage payments and don’t want to move, being upside down may not.
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upside-down, n. A position that consumers find themselves in when the outstanding balance of a loan is higher than the current fair market value of the property.
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An upside down mortgage is another term for negative equity wherein the value of your house is less than the amount of the loan used as a.
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For example, if one borrows $100,000 to buy a house and, for whatever reason, the value immediately drops to $60,000, the homeowner is said to have an upside down mortgage. Upside down mortgages are most common after the burst of an asset bubble.
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An upside down mortgage is one where the balance remaining on the loan exceeds the value of a home. If you have an upside down mortgage, then you actually have negative equity in the property currently.
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