Thursday, August 6, 2009

Rising tide sinks homeowners

Survey: 'Underwater' Mortgages To Hit 48 Percent

A new study indicates that by 2011 nearly half of American homeowners will have a house worth less than what they owe on the mortgage. When more is owed, than what the house is worth, it's called being under water. One-fourth of U.S. homeowners are estimated to be under water on their mortgages already. NPR

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