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Anonymous Posted 16 years ago
Vocabulary

Upside down on your mortgage

Hello!

Does "being upside down on one's mortgage" mean the loan amount exceeds the market value of the property?

Thanks so much!

Tony.
  

Top answer

Hi Tony. I think you are correct, although it isn't a phrase I have heard before. Have you the context it was used in?

— Dave Phillips

  • Hi Tony.
  • I think you are correct, although it isn't a phrase I have heard before.
  • Have you the context it was used in?
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3 Answers
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Hi Tony.

I think you are correct, although it isn't a phrase I have heard before. Have you the context it was used in?
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Hi,

I don't know that expression.

I believe the term I heard recently about the problems like this in the USA is 'being underwater'.

eg
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AnonymousDoes "being upside down on one's mortgage" mean the loan amount exceeds the market value of the property?
Yes.

CJ
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