Jane was "upside down" or "under water" on her home loan.If her house was worth $200,000,what is a possible value for Jane's mortgage?

Question

Quizplus · Accepted Answer

If Jane is "upside down" or "under water" on her home loan, it means that she owes more on her mortgage than her house is worth. So, if her house is worth $200,000, her mortgage would have to be more than $200,000 for her to be "upside down." Option A) $300,000 is a possible value for her mortgage, as it is higher than the value of her house. Options B) $200,000 , C) $100,000, and D) $0 would not make Jane "upside down" on her home loan.

Jane Was "Upside Down" or "Under Water" on Her Home