One in Eleven Mortgages Seriously Underwater

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According to a recent report from ATTOM Data Solutions (as reported by Bloomberg), 1 in 11 mortgaged properties in America are “seriously underwater” – representing over 5 million properties.  Drilling down into the data reveals that in 27 zip-codes, more than half of the homes are “seriously underwater,” meaning they have a loan-to-value ratio of at least 125%.

“At the end of 2018, the most “seriously underwater” zip code was Trenton’s 08611 — in New Jersey’s capital — where 70.3 percent of mortgaged homes were valued at $100 or less for every $125 owed. The St. Louis zip code 63137 follows at 64.8 percent. Zip codes 60426 in Harvey, Illinois (62.3 percent); 38106 in Memphis, Tennessee (60.5 percent) and 61104 in Rockford, Illinois (59.6 percent) round out the worst five.”

Click here to read the full story on Bloomberg.

Click here to read the ATTOM’s full report at Attomdata.com.

 

About Author

Director of Education & Outreach, National Real Estate Investors Association

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