Mortgage Underwater? Here’s What You Can Do

When your mortgage balance exceeds your home's value, it's considered underwater. Strategies to deal with this include staying put to build equity, exploring refinancing options, considering a short sale, opting for a loan modification, or a strategic default. Refinancing and selling may be challenging due to the home's value. Programs like HARP and HIRO could help, but eligibility criteria apply. It's advised to keep up with mortgage payments to maintain eligibility for assistance programs.