Negative equity
The moment a residential mortgage is worth more than the home one is said be in negative equity. It only becomes a real problem if one wants to sell your home. Unless one can make up the deficit then your lender can block the sale.
The moment a residential mortgage is worth more than the home one is said be in negative equity. It only becomes a real problem if one wants to sell your home. Unless one can make up the deficit then your lender can block the sale.