Upside-Down Mortgage
Learn About Upside-Down Mortgages
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Because of the crumbling housing market, you may now have an upside-down mortgage, meaning you owe more than the house’s value. However, if you plan to be in the house for a while, you can take a longer-term perspective than someone who needs to sell the house and move on.
Bankrate:Upside Down on Home? Take a Deep Breath
What can you do when you find out you cannot pay your mortgage? If you have defaulted on a loan, find a financial advisor or a housing counselor who can help you find a new solution.
US Department of Housing: Guide to Avoiding Foreclosure
