under water
adj.— «Jarjura said he’s glad his staff has come up with a way to get beyond the problems of properties that are “under water,” in real estate parlance.» —“Delinquent Waterbury properties head for auction block” by Steve Gambini Republican American (Waterbury, Connecticut) July 26, 2006. (source: Double-Tongued Dictionary)
Further reading
In 1968, students at Cheyenne High School in Cheyenne, Wyoming, compiled a collection of their own slang, including the word Clyde, used to refer to one’s head, as in Use your Clyde! This is part of a complete episode.
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