Study Finds 6.4 Million U.S. Homeowners Still Have Underwater Mortgages

If you’re underwater on your mortgage, you’re in good company. According to a report by Black Knight Financial Services, as of the end of 2015, an estimated 3.2 million homeowners across the.

“Lots of these families have a lot of back end debt that could drive them out of the home.” The program proposal is a particularly interesting case study. roughly 11 million U.S. residential.

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An underwater mortgage also often prevents a homeowner from being able to refinance the debt. Underwater homeowners are typically unable to get a new loan with more favorable terms-like a lower interest rate-if the current value of the property is not enough to act as security for a new loan that is sufficient to pay off the existing mortgage.

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Top 10 states for ‘underwater’ mortgages This contemporary Sacramento, Calif. home is for sale for $125,000 6. California Percentage of mortgages underwater: 29.9 percent. Much of California’s housing market is still struggling as a result of the housing crash, and state capital Sacramento is no exception.

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Study Finds 6.4 Million U.S. Homeowners Still Have Underwater Mortgages – Forbes. Phoenix-Mesa-Scottsdale area still 23.2% were underwater Home equity has improved with rising prices and the close-out of many foreclosure proceedings, still there are millions underwater on their mortgages.

Underwater Mortgage: A home purchase loan with a higher balance than the free-market value of the home. This situation prevents the homeowner from selling the home unless s/he has cash to pay the.

Study finds 20 percent of Mortgage Underwater – I say so what? From my Realtor email newsletter today: Nearly 20 percent of home owners owe more on their homes than their properties are worth, finds a new study by First American CoreLogic.