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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 | 130 views | Home Loans | 6 months ago
Answer(3)
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Rising Star
13 Answers
Jennifer Schill

Keller Williams Brazos West

(1)

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.
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Novice
6 Answers
Cindy Sharp

KW Showcase Realty

(5)

Visions of the crash in 2008, the struggle is real.....

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Novice
5 Answers
Jennifer Cartensen

The Real Estate Agency

(59)

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.

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