Finance
A NH homeowner's loan is 'underwater' (negative equity). This means:
AThe property is located in a flood zone
BThe outstanding mortgage balance exceeds the property's current market value✓ Correct
CThe loan has a variable interest rate
DThe homeowner is more than 90 days delinquent
Explanation
A property is underwater when the mortgage balance exceeds its market value. This can occur when property values decline after purchase. Underwater homeowners cannot sell without either paying the difference at closing or negotiating a short sale with their lender.
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