What does it mean when you are Underwater?
The phrases “underwater” and “upside down” refer to a situation when the amount owed on a mortgage loan is greater than the value of the property.
In simpler terms, a house is underwater when the owner owes more on the mortgage than the house is worth.
You have various options on what to do if you are in this situation.
Categories:
Financing,
Home Sellers
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![Thinking about buying a home with family?
Pooling resources with relatives can open new doors, but it’s important to ask the right questions before diving in.
Whether your goal is to care for aging parents, share childcare responsibilities, or simply afford a more desirable home, having a clear plan is key.
Here are a few questions to get you started:
🤔 What’s everyone looking for in the new home?
⚖ Are there compromises the family can agree on?
💼 How will responsibilities and expenses be divided?
🏠 Are there long-term considerations, like accessibility or upkeep costs?
🗓 How will family dynamics change with this new living arrangement?
Open communication is essential to making this transition successful—and we’re here to help.
From family meetings to market advice, we’ll guide you through the process and help you find a home that works for everyone.
Read more in our latest blog post: [Link in Bio]
#realestate #realestateagent #multigenerationalliving #familyhome #homebuyingtips](https://guthriegrouphomes.com/wp-content/plugins/instagram-feed/img/placeholder.png)
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