Financial Freedom Expert

A new analysis from credit rating company Fitch Ratings revealed that a third of prime borrowers are currently underwater on their mortgages.

And after everything is said and done, the company expects roughly half of prime borrowers, those at the top of the credit score range, to end up in a negative equity position thanks to a further 10 percent decline in home prices.

You may think it doesn’t matter much, given these are the crème de la crème of homeowners with mortgages.

But Fitch noted that over 12 percent of prime borrowers are already seriously delinquent on their mortgages, aka on the road to foreclosure.

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Feel like you are drowning under your mortgage? Millions of Americans are “underwater” on their home loan, meaning that they owe more than the home is worth. Here are six options for dealing with an upside down mortgage:

Option 1: Stay And Pay

If you can afford your payments, you may want to hang in there. But if you have little breathing room in your budget, or if your circumstances change, you may be at risk of defaulting in the future.

Key Questions: Is budget so tight that you are at risk of defaulting if anything goes wrong? How

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