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What happens if your mortgage is worth more than your home?
What happens if your mortgage is worth more than your house? I'm worried that I overpaid for the house and that the value will go down.
Asked By Ryan | Memphis, TN | 537 views | Home Loans | Created 1 year ago
Answer(3)
Jennifer Schill
Keller Williams Brazos West
Hi Ryan! Stop worrying. Enjoy your house and take care of it. Property values may fluctuate in the short term, but generally increase over time, unless neglected or poorly located. Nothing "happens", except your equity grows.
- 1 year ago
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Cindy Sharp
KW Showcase Realty
Visions of the crash in 2008, the struggle is real.....
- 1 year ago
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Jennifer Cartensen
The Real Estate Agency
Mortgage is worth or you owe more than the house is worth? A Realtor can send you clarification on this as well as a CMA (market analysis) to confirm this. Most of the homes in Memphis purchased 2023 or earlier are not upside down.
- 1 year ago
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