Is your home worth less than what you owe on the mortgage, or mortgages? That is called: underwater. This encourages people to stop paying and let mortgage foreclosure happen, even if they can afford the payments. In Michigan now, for homes that have a mortgage more than half are underwater. Tune I ...
Tag Archive: foreclosure
Foreclosure Crisis – The Next Phase
The national foreclosure crisis is deep into the negative equity phase, as reported in the Christian Science Monitor this week. Negative equity, that is, your home is underwater, worth less than you owe on it. As I have ...
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