What does it mean to be “upside-down” on my house?
This phrase is generally used to describe someone who owes more on their house than it is worth or they could sell it for.
| 01.07.14 @ 20:54
The answer you received from Nic is correct. Another term you may hear is "underwater" which means the same thing. Note that although someone may be "upside down" or "underwater", this does not mean that they cannot refinance their home. There are several programs available that if eligible, a home owner could still refinance at a very competitive rate. If this is your situation, call me to discuss. I am licensed in NJ and happy to speak with you. | 02.04.14 @ 22:11