Underwater Homeowners Owe More Than $1.2 Trillion Than Homes Are Worth

underwater homes

What is an underwater home?  It is when a homeowner owes more than the house is worth.  For example, suppose you have a house where you owe the bank $150,000 on your mortgage.  Now suppose you want to sell this house and you find out it’s only worth $125,000, giving you $25,000 in negative equity.  The […] Read more »