- 23% of U.S. homeowners with mortgages are underwater (importantly this is NOT 23% of homes). This is 10.7 million houses.
- 5.3 million U.S. households are at least 20% underwater, the First American report said. More than 520,000 of these (20%) have gotten notices of default
- Most U.S. homeowners still have some equity
- Nearly 24 million owner-occupied homes don’t have any mortgage
- About 588,000 borrowers defaulted on mortgages last year even though they could afford to pay — more than double the number in 2007
- The latest First American data aren’t comparable to previous estimates because the company revised its methodology. Using the old methodology, the portion of underwater borrowers would have increased to 33.8%.
- Homeowners in Nevada, Arizona, Florida and California are more deeply under water. In Nevada, nearly 30% of borrowers owe 50% or more on their mortgage than their home is worth.
- More than 40% of borrowers who took out a mortgage in 2006 are under water.
- 11% of borrowers who took out mortgages in 2009 are underwater
- 3.57 million houses were listed for sale nationwide at the end of October, down 3.7% from a September
- About 7.5 million households were 30 days or more behind on their mortgage payments or in foreclosure at the end of September
- 30% of underwater borrowers owe 110% or less of their home’s value
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