2
general::
Phrase(s): *upside-down
Fig. in a financial state such that one owes more money on a car, truck, house, etc., than its resale value. (*Typically: be ~; get ~.) • When I tried to trade in the car, I found that I was upside-down and couldn’t close the deal without more money. • I took a loan period that was too long and was upside-down in two years.
McGrawhill's American Idioms And Phrasal Verbs