One in 4 home loans underwater

02/25/2010 1:13:00 AM
Posted by admin

This is a staggering statistic which underscores how difficult it is for banks to pull out of this hole.

Eleven million, three hundreds thousand homes had underwater mortgages as of the fourth quarter of last year. That number represent 24% of all residential homes loans in America…. The aggregate dollar value of negative equity was $801 billion at the end of last year, up $55 billion from $746 billion in Q3 2009.


This entry was posted on Thursday, February 25th, 2010 at 1:13 am and is filed under Economic indicators. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a comment, or trackback from your own site. You can .
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