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It impacts your evaluation by lenders. If you are underwater on your house, even if you can afford the payments, carrying a net-negative balance on your house (
by jhickok 5y ago
It impacts your evaluation by lenders. If you are underwater on your house, even if you can afford the payments, carrying a net-negative balance on your house (owing 500k on a house valued 350k resulting in net assets of negative 150k), it can make it harder to buy a vehicle or cosign loans for your children etc etc.
- pxeboot 5y agoSource? I have been underwater on a home, and it's current value was never considered for anything not related to that property. It's not like banks send appraisers to your house everytime you apply for a credit card or auto loan.