TK providers switch the usage to an investor & they start underwater because they bought the wrong way, the wrong approach to value.

I suppose if you were that underwater they might seek to obtain a judgement against you...That should be part of the reason for investment conventional loans to require 20% down...  

The federal reserve is now committed to a low interest rate environment for the foreseeable future, IF they were to raise interest rates back to 4% ALL homebuyers and many consumers that refinanced their properties would be under water as purchasing power would decrease and there would be a subsequent impact on sale prices (historically there is an inverse relationship between interest rates and property prices; drop interest rates, property prices go up and the reverse applies).What do you think? 

the 20% down no appreciation rental real estate purchases of the last few years are already underwater if market just drops 10% from what they paid for them the other 10% will be eaten up in settlement charges.. so there goes the investors downpayments..

I was significantly underwater during the Great Recession.

Many people who bought in 2019 and early 2020 are potentially under water.

If you are looking for a buy and hold, being underwater shouldn't even matter in most respects so long as your rents are covering your expenses plus a profit. 

Even worse during the 2008 crash with property values dropping, many people were underwater, so the property subtracted from net worth.

I heard you need 3-4 lessons to be able to stand up.I don’t like to put my head under water so I didn’t take any lessons myself.

Rates simply have the most impact on pricing, which is something to think through when you plan to use a low downpayment product as you will be "underwater" faster.