Finance
A South Carolina homeowner is 'underwater' on their mortgage. This means:
ATheir property is in a flood zone
BThe outstanding mortgage balance exceeds the property's current market value✓ Correct
CThey have missed multiple payments
DTheir mortgage interest rate is too high
Explanation
Being 'underwater' (negative equity) means the homeowner owes more on the mortgage than the property is currently worth. This can make it impossible to sell without a short sale or bringing cash to closing.
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