Underwater Mortgage Daniel Guidotti 14 years ago Underwater MortgageA type of mortgage that has a higher outstanding balance than the home’s market value.Random Finance Terms for the Letter UUndersubscribedUnderwater MortgageUnderweightUnderwithholdingUnderwriteUnderwriterUnderwritingUnderwriting FeeUnderwriting IncomeUnderwriting SpreadRecommended for you:Underwithholding Underwriter Underwrite Underweight