Report: 1 in 5 Mortgages Are Underwater (BusinessWeek Online)

[riky]

Report: 1 in 5 Mortgages Are Underwater
    (BusinessWeek Online)

 

BusinessWeek Online - It's bad enough when the value of your house is sinking like a lead balloon. But for a growing number of Americans, their woes are compounded by owing more on the mortgage than what that house is now worth. It's called having negative equity -- the opposite of what happens when a home appreciates and a homeowner builds positive equity above and beyond his initial investment.


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