The nation's housing market is slowly improving, but many Americans continue to struggle with upside-down mortgages
-- owing more on their homes than they are worth.
16, 2012 /PRNewswire/ -- Many homeowners are sick and tired of paying on their upside-down mortgages
while their neighbors and fat cat bankers get bailed out by the Fed.
Cash-strapped homeowners are staying put in their homes or taking a loss on their upside-down mortgages
and moving back in with their parents to raise their families.
, home depreciation values and looming foreclosure is the stuff of "HGTV's $250,000 Challenge.
Additionally, it is believed that to the extent that this stimulates investments in home improvements, it will enhance home values and help close the gap on upside-down mortgages
and shrinking home values that are a major cause of our current economic problems.
A lot of people have upside-down mortgages
or very tight margins -- maybe their home is worth $400,000, and they owe $350,000," so the money they save on paying a commission to a realtor could make a big difference, Donnellan said.
And, upside-down mortgages
continue to plague many homeowners as well.