andhra_jp Posted December 10, 2022 Report Share Posted December 10, 2022 Some 250,000 people who took out a mortgage this year to buy a home are now underwater, meaning they owe more on their loan than the home is worth, Black Knight, a mortgage software provider, found. Another million have less than 10% equity. All told, 8% of mortgages taken out this year are underwater — about one in 12 homes purchased in 2022. In Colorado Springs and Honolulu, more than 30% of mortgaged homes bought this year are underwater.In Virginia Beach, about 22% are worth less than what is owed. The figure is 20% in the California cities of Bakersfield, Riverside, San Diego and Stockton — cities with a large military presence where many people buy homes with government-backed mortgages. https://www.cbsnews.com/news/home-prices-underwater-mortgage/?ftag=CNM-00-10aab7e&linkId=193078639 Quote Link to comment Share on other sites More sharing options...
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