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.
E)a traditional mortgage.

Question

Quizplus · Accepted Answer

Negative equity in your house means that the value of your house is less than the amount you owe on your mortgage. This can happen if the value of your house decreases or if you took out a mortgage for more than the value of your house. It can be a risky situation because if you have to sell your house, you'll still owe money on the mortgage after the sale.

If the Amount You Owe on Your House Is Greater