More than 10.7 million U.S. homeowners nationwide owe at least 25 percent more on their mortgage than their property is worth, representing 23 percent of all homeowners with a mortgage nationwide. See full RealtyTrac Home Equity & Underwater Report for September 2013. These homeowners are basically stuck in their homes, unable to sell until they have regained enough equity to do so — which will likely take years in many cases. The only other alternative is short sale or to walk away and all the home to be foreclosed, both of which will severely damage the homeowner’s credit.
See the percentage of seriously underwater homeowners in your county using the heat map below. Drag and drop within the map to change the location, and use the controls on the right to zoom in and out.Green-colored counties are those with a high percentage of seriously underwater homeowners, while red-colored counties are those with a low percentage of seriously underwater homeowners, and yellow-colored counties are those where the percentage of seriously underwater homeowners is close to the national average.
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