20% of mortgage borrowers underwaterNews added by ProWEB Media on August 9, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

More than 20 percent of borrowers in the U.S. are currently underwater on their mortgages, or owe more than their homes are worth.

In fact, during the third quarter, 21.5 percent of borrowers were underwater.

While this is figure is high, it represents an improvement from a rate of 23.3 percent during the quarter previous. However, reports indicate that this is likely due to so many people having lost their homes to foreclosure.
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