In areas of the country where property values have fallen, a home is considered to be an underwater home if its unpaid mortgage balance exceeds the market value of that home.
There are other options available that might be worth exploring . . . read more about disposing of an underwater home.
More Articles by Elizabeth Weintraub:
- How to Choose Between Doing a Short Sale or a Foreclosure
- Whether You Should Stop Making Your Payments to Pursue a Short Sale
- How to Stage a Short Sale Home on a Budget
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Technorati tag: underwater home
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.