Finance
When a New Mexico property is 'underwater' (negative equity), it means:
AThe property is in a floodplain
BThe outstanding mortgage balance exceeds the property's current market value✓ Correct
CThe property has a water rights deficit
DThe property taxes exceed the rental income
Explanation
A property is 'underwater' or 'upside down' when the amount owed on the mortgage exceeds the property's current market value, meaning the owner has negative equity.
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