CNN Money Reports 20% of mortgages underwater (via NYS Coalition for Excellence in Homeownership Education)

According to Les Christie, CNN Money staff writer who cites Zillow, more than 20% of the nation's mortgage borrowers owe more than their homes are worth. as follows:  "At 21.5% for the third quarter, it is a small improvement over the previous quarter, when 23.3% of loans were underwater, according to real estate website Zillow.com. This so-called negative equity is a hotly watched statistic because it is a prime predictor of foreclosure — secon … Read More

via NYS Coalition for Excellence in Homeownership Education

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