This is the second time in the same thread I’ve seen someone write “upside down” to (I assume) mean “insolvent” despite never seeing the phrase before in my life. Y’all all from the same town?
I think it means “owes more than the value of the collateral”, so even liquidating the collateral to pay off the debt will leave you with residual debt. I’ve usually heard it called “underwater on the loan”.
Could be risky - you don’t want to end up upside-down on your pizza mortgage
I want to be upside down under Luigi
I think you want a different chain, this is Papa John’s, not Daddy Luigi’s
the only chain I want is
.
.
actually this joke is getting tired just kill ceos
This is the second time in the same thread I’ve seen someone write “upside down” to (I assume) mean “insolvent” despite never seeing the phrase before in my life. Y’all all from the same town?
I think it means “owes more than the value of the collateral”, so even liquidating the collateral to pay off the debt will leave you with residual debt. I’ve usually heard it called “underwater on the loan”.