Facebook Pixel

30 percent of mortgages are underwater

By in with 0 Comments

Home prices dropped 2.6 percent nationwide during the last three months of 2010, pushing more borrowers underwater, according to a quarterly real estate market survey from Zillow.com. Now, 27 percent of homeowners with mortgages owe more than their homes are worth. That’s up from 23.2 percent a quarter earlier.