Upside Down Mortgage

(redirected from Upside Down Mortgages)

Upside Down Mortgage

A mortgage in which the amount that a property owner owes on the loan is more than that property's current market value. For example, if one borrows $100,000 to buy a house and, for whatever reason, the value immediately drops to $60,000, the homeowner is said to have an upside down mortgage. Upside down mortgages are most common after the burst of an asset bubble.
Mentioned in ?
References in periodicals archive ?
The number of homeowners with upside down mortgages is growing rapidly.