Underwater Mortgage

Upside-Down Mortgage
An upside-down mortgage, also known as an underwater mortgage, is a situation where a homeowner owes more on their mortgage loan than the current market value of the property. This results in negative equity, making it challenging for the homeowner to sell or refinance the property without incurring a financial loss.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.