If the amount you owe on your house is greater than the price of the house,you have
A)no value to your house.
B)a mortgage rate that is too high.
C)negative equity in your house.
D)a reverse mortgage on your house.

Question

Quizplus · Accepted Answer

If you owe more on your house than its current value, you have negative equity in your house. This means that if you were to sell the house, you would not make enough money to pay off the mortgage. It is important to address negative equity and work to increase the value of the house or pay down the mortgage to avoid financial issues in the future.

If the Amount You Owe on Your House Is Greater