"UNDERWATER HOMES" - GETTING YOUR MORTGAGE OUT OF DELINQUENCY STATUS

"What constitutes a property being termed "underwater"??

If you have encountered the terminology associated with mortgaging, home-ownership and mortgaging services, you may have come across the term “underwater” mortgage status. The particular term refers to the purchase of a home or real estate property, with a higher balance than the market value of the home or property referenced. As a result the owner must pay the difference in order to sell the property.

This may also prevent the owner from refinancing the property; the ensuing problem will impede the owner from selling the property,( loss of income, loss of job, cant afford the mortgage cost) thereby placing the home into foreclosure unless the borrower is able to renegotiate the terms of the loan.

Are there any feasible solutions? 

The most feasible solution for an individual in this scenario is to consider the following:

1) Researching all avenues of help, programs designed to help distressed property owners.

2)Don't consider your investment a loss; do not second guess yourself under duress as to the nature of your investment, rather look for the 
answers that will assist you in making your initial vision a success.

3)Start with a solid and dependable financial specialist who will be able to help you with your difficulties. There are many who offer free consultation, the effort on your part is to Google search and find whom best fits your needs.

Have an excellent 2016!