WEAR ABC 3 : Options Available For "Upside-Down" Mortgagees

WEAR ABC 3 :: Top Stories: "GULF BREEZE - As people raced to buy homes in the aftermath of Hurricanes Ivan and Dennis, the lack of available real estate pushed prices sky-high.

But when the housing bubble burst in 2008, most of those people who bought at sky-high prices found themselves owing far more than the house is actually worth. That's presented a lot of problems for people who need to move, or are struggling to make their mortgage payments.

There are some options if you find yourself upside down on your home.

For Robert and Elisa Slack, this home in Gulf Breeze looked like a steal at $214,000 just before Hurricane Ivan."