Aug 16, 2010

20% of mortgages underwater???

According to the a report in the real estate website, more than 20% of the nation's mortgage borrowers owe more than their homes are worth. At 21.5% for the third quarter, it is a small improvement over the previous quarter, when 23.3% of loans were underwater, according to real estate website This so-called negative equity is a hotly watched statistic because it is a prime predictor of foreclosures.

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