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goingoffgrid

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What should I do when I owe more than my home is now worth?
What is your best advice when the home you are buying is significantly lower in value than what you still owe on it?

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Top Contributor
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Given how much housing prices are rising

I would hang in there,  Property values are going up almost as fast as they went down.  Depending on where you live, it may have bounced back by now.  I know that they are almost what they were before the  recession here. 

If you want to get a better idea, rather than just assuming that your underwater, contact a realtor and have them come out and give you an idea of what it's worth. tell them your thinking of selling and they can give you a valuation based on what has sold in your area recently.  If you want a more accurate value, have the property apprasied,  It will cost a couple of hundred dollars but you would know for sure.

don't panic until you know for sure that the ship is sinking!

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