The term “underwater” has commonly been used in the housing industry to describe troubled mortgages. Now, Merriam-Webster announced it’s recognizing the word by adding it to the dictionary.
According to the 2012 update of the Merriam-Webster’s Collegiate Dictionary, “underwater” in the real estate sense is defined as …
“having, relating to, or being a mortgage loan for which more is owed than the property securing the loan is worth.”
Other commonly used real estate-related words added to the 2012 dictionary include: “man cave”, and technology words like “cloud computing” and “mash-up”.
To read the full article, click here: Realtor Mag
{ 0 comments… add one now }