underwater homes - Articles

Half of Mortgage Borrowers Under 40 Are Underwater

By Les Christie NEW YORK -- Rising home prices helped nearly 1 million homeowners emerge from being underwater on their mortgages during the second quarter. But younger homeowners are still struggling to stay afloat, according to a report from Zillow. The percentage of borrowers who owed more on their homes than they... Continue Reading »

Underwater Homes: Top 10 States With the Most Negative-Equity Mortgages

Underwater mortgages have plagued the housing market since the housing bubble burst in 2006. Rapidly declining prices meant that homeowners started to owe more on their mortgages than their homes were worth. This can lead to short sales, foreclosures, and a serious blow to a households' net worth. CoreLogic released... Continue Reading »

Underwater Mortgages Keeping Housing Market Afloat?

The more than 20 percent of U.S. homeowners stuck with "underwater" mortgages may be in a rough spot -- but, believe it or not, that may be giving a boost to the housing market. Though negative equity is forcing millions to stay put in homes that are worth less than their mortgages, it means fewer properties are going... Continue Reading »

More Than 30% of Mortgage Borrowers Still Underwater

By Les Christie @CNNMoney NEW YORK -- Despite rising home prices, more than 30 percent of borrowers, or close to 16 million homeowners, were underwater on their mortgage during the first quarter, according to Zillow. The percentage of borrowers who owed more on their home than it was worth increased to 31.4 percent... Continue Reading »

Underwater Nation: Are Home Prices Drowning?

We've been hearing the drill for a while now: Home prices are down, having dropped 2.6 percent nationwide during the last three months of 2010. Foreclosures keep coming as if they were on an assembly line. In Phoenix, it is estimated that as many as 70 percent of homeowners are underwater on their loans. The story is not... Continue Reading »

Million-Dollar Home Defaults: Just What the Doctor Ordered

When Junaid Nazeer's wife, Neelofur, lost her job as a pathologist for a private medical lab her income plummeted from $400,000 to just about one-fifth of that. Now Neelofur is working through a fellowship to be a pathologist in a hospital environment. In November 2010, six months after she lost her job, the Chicago couple... Continue Reading »

Underwater Homes Gasp a Little Air

Underwater mortgages are the bugaboo of troubled homeowners. The more underwater their homes are -- in other words, the more negative equity they hold in their homes -- the better the chances are that homeowners will lose them. Therefore it should come as good news that only 10.8 million homes, or 22.5 percent of all... Continue Reading »

North Carolina Foreclosures Near Record, but Tide May Be Turning

Foreclosures in North Carolina are on pace to set a new record of 70,000-plus filings in 2010, eclipsing last year's record of 63,289. By the end of July there were already more than 40,000 filings, according to data analyzed by the North Carolina Justice Center. Foreclosure activity slowed a tad in 2009, after lenders... Continue Reading »

AOL RealEstate on Facebook