The 15 States With The Most Underwater Mortgages

flood nevada

Home prices are already swirling around stagnation or a double dip. But where the real danger lies is in underwater homes, where disenchanted mortgage holders could pull the plug and flood the market with repossessed homes.

It could all happen very suddenly. Surveys show mortgage holders are more likely to default when they know people who have done the same.

The most negative equity is in former residential hot spots.

Idaho -- 22.7% of mortgages underwater

Source: LendingTree

Maryland -- 22.9% of mortgages underwater

Source: LendingTree

South Dakota -- 23.8% of mortgages underwater

Source: LendingTree

Mississippi -- 23.8% of mortgages underwater

Source: LendingTree

Louisiana -- 23.8% of mortgages underwater

Source: LendingTree

Maine -- 23.8% of mortgages underwater

Source: LendingTree

Wyoming -- 23.8% of mortgages underwater

Source: LendingTree

West Virginia -- 23.8% of mortgages underwater

Source: LendingTree

Virginia -- 24.3% of mortgages underwater

Source: LendingTree

Georgia -- 27.8% of mortgages underwater

Source: LendingTree

California -- 35.1% of mortgages underwater

Source: LendingTree

Michigan -- 38.5% of mortgages underwater

Source: LendingTree

Florida -- 47.8% of mortgages underwater

Source: LendingTree

Arizona -- 51.3% of mortgages underwater

Source: LendingTree

Nevada -- 69.9% of mortgages underwater

Source: LendingTree

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.