250,000 Homeowners are Underwater on Their Mortgage

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A recent article mentioned that 250,000 who took out a mortgage this year are upside down on their mortgage. This means that they owe more that the home is worth. This accounts for 8% of mortgages taken out this year, or 1 in 12 mortgages. The article also mentions that 25% of borrowers with government backed mortgages such as the FHA Loan or VA Loan are also underwater.

In this episode, I discuss what this means for investors, my personal opinion on this data and more. 

Highlights

1. Real Estate is a long-term investment. Having a mortgage underwater only matters if you don’t plan to hold the property for the long-term.
2. FHA and VA Loans are still a great option for those who want to buy properties with limited funds.
3. It’s important to make sure you understand the numbers before you invest. Market research is also important.

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