Millions of U.S. Homeowners Still Under Water on Mortgages
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(Worthy News) – A staggering number of American homeowners remain under water on their mortgages a decade after the housing bubble burst.
Almost 4.5 million households — or 9.1 percent — owed more than their homes are worth in the fourth quarter of 2017, according to data firm Zillow, with an estimated 713,000 owing at least twice as much as their property’s value.
While the percentage is declining, families in communities with stagnant property values are “trapped in their homes with no easy options to regain equity other than waiting,” said Aaron Terrazas, a senior economist at Zillow. [ Source: Bloomberg (Read More…) ]
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