bankruptcy: Bankruptcy – a Viable Way Out of an Underwater Mortgage?
- 04/03/12 12:10 AM
The current economic and housing situation has left many homeowners wondering ‘just how low can it go?” For those who bought their homes when the housing market was at its peak, the resulting downturn in the economy and subsequent collapse of the real estate market left many homeowners with negative equity on their purchase. An underwater mortgage is a situation in which a borrower owes more money on a property than the property is actually worth on the open market. While there are several reasons this can happen, the negative correction in the market left many people reeling in debt when … (0 comments)
The current economic and housing situation has left many homeowners wondering ‘just how low can it go?”
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