According to the property data group Attom, more than 5% of mortgages in Illinois are underwater.
That makes Illinois eighth in the nation for this issue.
A mortgage is considered underwater when a borrower owes more on their home loan than their home's market value.
Understand your loan terms. Consumer experts at MarketWatch say you can be more at risk of being underwater if you have an interest-only loan or adjustable-rate loan and you're not paying enough down on the principal.
You can also increase the value of your home before it's underwater by making renovations and improvements with a personal loan or a home equity loan. But make sure those loan payments for improvements fit in your budget.