under water
1. Of a financial asset, having less value than when it was purchased. As the economy continued to spiral downward, more and more homeowners found themselves with houses under water. As long as these properties remain under water, there's no chance for us to relocate to a better location.
2. Financially insolvent; owing more in debt than one's assets are worth. Our firm specializes in helping small business who are under water get out of debt and get back to a manageable cash flow.
Farlex Dictionary of Idioms. © 2024 Farlex, Inc, all rights reserved.
under water
1. Being or holding an asset that is worth less than its purchase price or the debt owed on it.
2. Not making enough money to meet financial obligations.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.