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In the ongoing debate about whether one should walk away from an underwater mortgage or not, one University of Arizona professor speaks out strongly in favor of taking a hike. According to Brent T. White, an associate professor of law at the University of Arizona: A failure to grasp the true economics of the situation is Continue reading… The Cost of Not Walking Away From An Underwater Mortgage Average value of home with “underwater” mortgage $210,300 – Average loan balance $280,000 – Average amount “upside down” $70,000 Dennis Norman According to a report released today by First American CoreLogic nearly 10.7 million U.S. mortgages, or 23 percent of all mortgaged properties, are in a negative equity position meaning the borrowers owe more on Continue reading… Almost 11 million homeowners are underwater on their mortgage Dennis Norman By: Dennis Norman According to a report issued by First American CoreLogic more than 15.2 million U.S. mortgages, or 32.2 percent of all mortgaged properties, are in a negative equity position. Continue reading… Nearly one-third of all mortgages underwater |
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