More than 28% of US homeowners underwater on their mortgage

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More than 1 in every 4 St Louis homeowners still seriously underwater on mortgage By Dennis Norman , on January 10th, 2014 Over 1 of every four St Louis homeowners (28%) with a mortgage are seriously underwater on their mortgages, meaning the current value of their home is at least 25 percent less than the total of their mortgages as of.

Almost 4.5 million American homeowners still owe more on their. with a mortgage (15.4 percent) have some equity in their home, but likely not. The 28/36 rule states that a household should spend a maximum of 28% of its gross monthly income on total housing expenses, and should spend no more than 36% on total debt service, including.

Do You Have An Underwater Mortgage? Here Are 6 Options That May Help. you’re not alone. According to real estate website zillow, more than 28% of U.S homeowners are in a negative equity position because they owe more on their homes than those homes are worth.. their mortgage lender.

About 28.4 percent of homeowners were “underwater” in the fourth quarter (those who owe more on the mortgage than their house is currently worth), according to Zillow, which runs a website with property-value estimates and real-estate listings.

Housing troubles continue drag on economy The U.S. housing market, a key indicator of the American economy, is flashing five major warning signals that home prices have peaked despite low mortgage rates and possible future rate cuts from.

 · According to a CoreLogic study, there are currently 11 million mortgages underwater and another 2 million nearly at negative equity in the US housing market – a figure that comprises 28% of all residential properties with a mortgage. In Massachusetts, there are 225,000 properties with negative equity and another 52,000 with near negative equity.

The 28/36 rule states that a household should spend no more than 28% of its gross monthly income on total housing expenses, and no more than 36% on all debt, including housing-related expenses and.

Mortgage holders who think they are underwater are far more likely than those who do not think so to have had problems paying their mortgage over the past year (33% vs. 10%), to have had a mortgage or credit application denied (28% vs. 8%) and to have had problems with collection or credit agencies (27% vs. 8%).

More Homeowners With Second Mortgages Underwater By Kyle Chezum Updated on 6/7/2011. There is no doubt that during the height of the housing crisis, a high number of homeowners were and still are underwater on their mortgage home loans.

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Homeowners who took out a second mortgage are twice as likely as those who didn’t to be underwater on their mortgages, with a whopping 38% owing more than their homes are worth, according to a.

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