Questions tagged [underwater-mortgage]

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82
votes
10answers
14k views

Why is being “upside down” on a mortgage so bad?

For the longest time (especially during/after the housing crash in the US), people would speak in hushed whispers or terrified pleas when they talked about being upside down on their mortgage. While I ...
3
votes
3answers
347 views

Please help me decide whether to Roth IRA or pay off my underwater mortgage?

my name is Jane and this is my first time stumbling across this site. I'd appreciate any quality answers to my question. Here's my stats: 3 jobs: 55k/year FT at a church 40k/year PT at a juvenile ...
5
votes
4answers
6k views

How do I get out from under an underwater mortgage without destroying my credit?

Let's say you mortgage a house in 2014 for $250,000. Fast forward five years, the market has crashed, and the house is now worth $150,000. Your house is now $100K underwater. What is the best way ...
6
votes
4answers
810 views

What steps should be taken, if any, when you find out your home's market value is underwater, i.e. worth less than the mortgage owed?

What steps should be taken, if any, when you find out your home's market value is underwater, i.e. worth less than the mortgage owed?
6
votes
2answers
431 views

What options exist for a person moving with an upside-down mortgage?

I'm currently considering moving to another state to seek employment that might be better than my current situation, hopefully better pay, a better company to work for, and more long term options. The ...