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Will you ever owe more than your home is worth?

Updated: 8/20/2019
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LibertyReverseMortga...

Lvl 1
11y ago

Best Answer

This is possible. When the amount owed on a home is actually more than the resale value of that home, the mortgage is metaphorically said to be "underwater". Housing prices can fall, but your mortgage does not reflect current prices, it is fixed, once you buy your house.

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11y ago
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