23 Percent of Homeowners Underwater
23 Percent of Homeowners Underwater
23 Percent of Homeowners Underwater
Helpful
Tools
Mortgage
Calculator

Estimate your monthly payment for a home purchase or refinance
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about mortgage loans to find the one that's right for you
15 Year vs 30 Year
Loan Comparison

Compare payments between a 15 year and 30 year mortgage loan
Today's Mortgage
Rates

See today's current mortgage rates. Shop, compare and save.

November 10 2010 (Chris Moore)
home-mortgage-picture
Zillow announced today that a staggering 23.2 percent of all American homeowners with a mortgage are underwater in the third quarter of 2010, with 11 markets reportedly having as many as 50 percent of the homeowners with mortgages being underwater. A homeowner who is “underwater” owes more on their home than it’s worth.

In Las Vegas, a whopping 80.2 percent of homeowners are underwater on their mortgages, followed by 68.4 percent in Phoenix and 64.2 percent in Orlando.

Nationwide, the negative equity share rose from 22.5 percent in the second quarter, and is at its highest level since Zillow began tracking in 2009.

Meanwhile, CoreLogic is reporting that an additional 5 percent of homeowners with mortgage loans have less than 5 percent equity in their homes and could soon be joining those already underwater if home priced continue to fall.

If that trend were to continue the number of homes underwater could soon jump to 28%. Unfortunately as we have been seeing more and more, homeowners with negative equity are more likely to lose their homes to foreclosure, which could give rise to a higher foreclosure rate.

The ever increasing amount of homeowners underwater is attributed to falling home prices and the large amount of zero down mortgages towards the end of the housing boom.

Zillow’s Chief Economist Dr. Stan Humphries stated, “The high percentage of homeowners in negative equity continues to be troubling, in that it represents a huge number of people who are not only more vulnerable to foreclosure, but who are essentially trapped in their current homes and are prevented from selling and buying a new home.”

“This has profound implications for future demand and will be a millstone around the neck of the housing market.”

During the third quarter, home values fell in 77 percent of the markets covered by the report, and in five of those (Los Angeles, San Diego, San Francisco, San Jose and Ventura), values started to fall again after five consecutive quarterly increases.

Tags: underwater mortgage, foreclosure, home values, homeowners, equity, mortgage loan, zero down mortgages

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools
Mortgage
Calculator

Estimate your monthly mortgage payment
Auto Loan
Calculator

Determine how much car you can afford before buying
Learn About
Mortgage Loans

Learn about the different types of home loans
15 Year vs 30 Year
Loan Comparison

Compare 15 year and 30 year mortgage loans
Todays Mortgage
Rates

See today's mortgage rates. Shop, compare and save.

November 10 2010 (Chris Moore)
home-mortgage-picture
Zillow announced today that a staggering 23.2 percent of all American homeowners with a mortgage are underwater in the third quarter of 2010, with 11 markets reportedly having as many as 50 percent of the homeowners with mortgages being underwater. A homeowner who is “underwater” owes more on their home than it’s worth.

In Las Vegas, a whopping 80.2 percent of homeowners are underwater on their mortgages, followed by 68.4 percent in Phoenix and 64.2 percent in Orlando.

Nationwide, the negative equity share rose from 22.5 percent in the second quarter, and is at its highest level since Zillow began tracking in 2009.

Meanwhile, CoreLogic is reporting that an additional 5 percent of homeowners with mortgage loans have less than 5 percent equity in their homes and could soon be joining those already underwater if home priced continue to fall.

If that trend were to continue the number of homes underwater could soon jump to 28%. Unfortunately as we have been seeing more and more, homeowners with negative equity are more likely to lose their homes to foreclosure, which could give rise to a higher foreclosure rate.

The ever increasing amount of homeowners underwater is attributed to falling home prices and the large amount of zero down mortgages towards the end of the housing boom.

Zillow’s Chief Economist Dr. Stan Humphries stated, “The high percentage of homeowners in negative equity continues to be troubling, in that it represents a huge number of people who are not only more vulnerable to foreclosure, but who are essentially trapped in their current homes and are prevented from selling and buying a new home.”

“This has profound implications for future demand and will be a millstone around the neck of the housing market.”

During the third quarter, home values fell in 77 percent of the markets covered by the report, and in five of those (Los Angeles, San Diego, San Francisco, San Jose and Ventura), values started to fall again after five consecutive quarterly increases.

Tags: underwater mortgage, foreclosure, home values, homeowners, equity, mortgage loan, zero down mortgages

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
HOW LOANRATENETWORK
LOAN CENTER WORKS
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Helpful Tools

November 10 2010 (Chris Moore)
home-mortgage-picture
Zillow announced today that a staggering 23.2 percent of all American homeowners with a mortgage are underwater in the third quarter of 2010, with 11 markets reportedly having as many as 50 percent of the homeowners with mortgages being underwater. A homeowner who is “underwater” owes more on their home than it’s worth.

In Las Vegas, a whopping 80.2 percent of homeowners are underwater on their mortgages, followed by 68.4 percent in Phoenix and 64.2 percent in Orlando.

Nationwide, the negative equity share rose from 22.5 percent in the second quarter, and is at its highest level since Zillow began tracking in 2009.

Meanwhile, CoreLogic is reporting that an additional 5 percent of homeowners with mortgage loans have less than 5 percent equity in their homes and could soon be joining those already underwater if home priced continue to fall.

If that trend were to continue the number of homes underwater could soon jump to 28%. Unfortunately as we have been seeing more and more, homeowners with negative equity are more likely to lose their homes to foreclosure, which could give rise to a higher foreclosure rate.

The ever increasing amount of homeowners underwater is attributed to falling home prices and the large amount of zero down mortgages towards the end of the housing boom.

Zillow’s Chief Economist Dr. Stan Humphries stated, “The high percentage of homeowners in negative equity continues to be troubling, in that it represents a huge number of people who are not only more vulnerable to foreclosure, but who are essentially trapped in their current homes and are prevented from selling and buying a new home.”

“This has profound implications for future demand and will be a millstone around the neck of the housing market.”

During the third quarter, home values fell in 77 percent of the markets covered by the report, and in five of those (Los Angeles, San Diego, San Francisco, San Jose and Ventura), values started to fall again after five consecutive quarterly increases.

Tags: underwater mortgage, foreclosure, home values, homeowners, equity, mortgage loan, zero down mortgages

HOW LOANRATENETWORK
LOAN CENTER WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateNetwork and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATENETWORK
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.