Escrow & Title
A NH property listed with three mortgages on it that total more than the sale price is described as:
AIn foreclosure
BUnderwater (upside-down), where the debt exceeds the property's value✓ Correct
CFree and clear
DA short sale candidate
Explanation
When a property's total mortgage debt exceeds its market value, it is 'underwater' or 'upside-down.' Selling it may require a short sale (lender approval to accept less than owed) or foreclosure.
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