underwater mortgage

Definition of "underwater mortgage"
  1. A home loan where the total amount owed is greater than the current market value of the home
How to use "underwater mortgage" in a sentence
  1. After the housing market crash, many homeowners found themselves with an underwater mortgage.
  2. The economic downturn led to a significant increase in underwater mortgages.
  3. An underwater mortgage can lead to serious financial strain if the homeowner needs to sell the home.

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