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Tags: According to a recent report that was released by MSNBC earlier today there are fewer homes this quarter that are “underwater” than in previous months. While this alone cannot be used as a sign to show that the housing market has improved dramatically it does show that the housing market has done some improving in the past couple of months.
An underwater mortgage is when a person owes more on their house than it is worth leaving many homeowners feeling stranded because in these type of situations they often are unable to refinance their homes, modify their mortgages or, are sometimes, unable to sell their homes. The fact that today less mortgages like this exist is definitely a positve sign and one step of many that need to be made in the right direction.
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