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10 States Sunk by Underwater Mortgages www.renohelp.org Call : 775- 525-1205
| Date post: | 17-Jan-2015 |
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10 States Sunk by Underwater Mortgages
www.renohelp.orgCall : 775-525-1205
According to Corelogic’s Negative Equity report, the mortgages on more than 11.1 million homes, or 22.8% of the nation’s 48.7 million mortgaged homes, are underwater. Based on Corelogic’s report, 24/7 Wall St. identified the 10 states withthe highest percentage of underwater mortgages.
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24/7 Wall St. relied on Corelogic’s Q4 2011 Negative Equity report to determine the states with the highest percentage of mortgages with negative equity. • Because of sample size, seven states were excluded from their results. • Check out the 10 states sunk by underwater mortgages…
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10. Virginia • Pct. homes underwater: 23%• Total property value: $428.46 billion• Mortgage debt outstanding: $307.48 billion• Median home value drop from peak: 16.7% (21st-biggest decline)• Homes in foreclosure or 90+ days delinquent: 4.1% (ninth-smallest percentage)
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9. Ohio • Pct. homes underwater: 23.9%• Total property value: $310.62 billion• Mortgage debt outstanding: $238.20 billion• Median home value drop from peak: 14.4% (23rd-biggest decline)• Homes in foreclosure or 90+ days delinquent: 6.9% (14th-largest percentage)
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8. Maryland • Pct. homes underwater: 24.3%• Total property value: $418.34 billion• Mortgage debt outstanding: $296.81 billion• Median home value drop from peak: 23.7% (12th-biggest decline)• Homes in foreclosure or 90+ days delinquent: 8.0% (tied for fifth- largest percentage)
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7. Idaho • Pct. homes underwater: 25.0%• Total property value: $49.76 billion• Mortgage debt outstanding: $36.58 billion• Median home value drop from peak: 29.3% (sixth-biggest decline)• Homes in foreclosure or 90+ days delinquent: 5.2% (20th-smallest percentage)
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6. California • Pct. homes underwater: 29.9%• Total property value: $2.73 trillion• Mortgage debt outstanding: $1.94 trillion• Median home value drop from peak: 46.7% (third-biggest decline)• Homes in foreclosure or 90+ days delinquent: 7.0% (12th-largest percentage)
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5. Georgia • Pct. homes underwater: 33.0%• Total property value: $306.59 billion• Mortgage debt outstanding: $252.81 billion• Median home value drop from peak: 26% (10th-biggest decline)• Homes in foreclosure or 90+ days delinquent: 8.0% (tied for fifth- largest percentage)
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4. Michigan • Pct. homes underwater: 34.7%• Total property value: $198.05 billion• Mortgage debt outstanding: $165.45 billion• Median home value drop from peak: 30.1% (fifth-biggest decline)• Homes in foreclosure or 90+ days delinquent: 6.5% (19th-largest percentage)
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3. Florida • Pct. homes underwater: 44.2%• Total property value: $809.95 billion• Mortgage debt outstanding: $706.00 billion• Median home value drop from peak: 44.8% (fourth-biggest decline)• Homes in foreclosure or 90+ days delinquent: 17.4% (the largest percentage)
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2. Arizona • Pct. homes underwater: 48.3%• Total property value: $243.02 billion• Mortgage debt outstanding: $226.22 billion• Median home value drop from peak: 47.9% (second-biggest decline)• Homes in foreclosure or 90+ days delinquent: 7.1% (11th-largest percentage)
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1. Nevada • Pct. homes underwater: 61.1%• Total property value: $96.57 billion• Mortgage debt outstanding: $109.94 billion• Median home value drop from peak: 60% (the biggest decline)• Homes in foreclosure or 90+ days delinquent: 13.4% (second-largest percentage)
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