22 Hrs
Source:
New York Post
Mapped: Where Mortgage Negatives Are Worst
The share of seriously underwater homes increased slightly, reaching 3.2% in the second quarter, primarily affecting states like Minnesota, South Dakota, Iowa, Michigan, and D.C. These homeowners owe more on their mortgages than their homes are worth, often due to recent low-down-payment purchases and slow local price appreciation, especially in Midwestern markets. Experts advise underwater homeowners to hold their ground unless they need to sell or refinance, as the situation generally poses a significant risk only in the event of a sale or financial need.
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