7 States With the Most Underwater Home Owners

An "underwater" mortgage is when the balance of the mortgage loan is higher than the fair market value of the property. This type of situation became common following the housing market crash that occurred in the late 2000s when many homeowners saw their homes lose a considerable portion of their value.

5 Facts About Underwater Homeowners. the data analytics firm offered a broad overview of the state of the underwater mortgage market. What follows, in turn, are five of the more telling facts I.

New York has the second-most seriously underwater mortgages with 172,000, but that’s only 6.7 percent of homes there, or about half the percentage in Chicago. Chicago also has the smallest share of.

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While Florida is in the process of recovery, the state still has a ways to go, with 109,000 residential homeowners underwater.

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About 8.7 percent of all. much of the country, the negative equity epidemic is lifting." Homeowners with negative equity owe more on their mortgages than their homes are worth and are often.

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Nearly 12% of all U.S. homes with a mortgage were considered seriously underwater during the second quarter of 2016, according to ATTOM Data Solutions, the parent company of RealtyTrac. That’s a staggering 6.7 million properties. "Seriously underwater" means the homeowner has a loan-to-value, or LTV, ratio of 125% or above.

Five states account for most lagging values. As the housing market rebounds, it’s easy to forget those who are still struggling with underwater home values. Nearly 11% of U.S. Homeowners Are Still.

In order to help more homeowners with unaffordable or underwater. But what criteria does the state-managed program use to determine if a. of its five programs should call 888-954-KEEP (5337) between 7 a.m. and 7 p.m..

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Top 5 States for Underwater Mortgages. Nevada: 65 percent of homeowners are underwater. Arizona: 51 percent of homeowners are underwater. Florida: 47 percent of homeowners are underwater. Michigan: 36 percent of homeowners are underwater. California: 32 percent of homeowners are underwater.