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Hello!

Does "being upside down on one's mortgage" mean the loan amount exceeds the market value of the property?

Thanks so much!

Tony.
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Hi Tony.

I think you are correct, although it isn't a phrase I have heard before. Have you the context it was used in?
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Hi,

I don't know that expression.

I believe the term I heard recently about the problems like this in the USA is 'being underwater'.

eg http://www.credit.com/news/credit-debt/2010-05-21/41-percent-of-homeowners-would-walk-away-from-u...

Clive
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Comments  
AnonymousDoes "being upside down on one's mortgage" mean the loan amount exceeds the market value of the property?
Yes.

CJ
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