Owning a home that is worth less than you paid for it is bad. A mortgage with a combined balance or individual balance that is greater than the value of your home only makes matters worse.  If this is the case then you have a negative equity mortgage or an upside down mortgage, whichever you prefer.   Most people who have a negative equity mortgage or an upside down mortgage don't know what to do so often times, they do nothing. If you are looking for ways to reduce your mortgage … [Read more...]