Friday, May 25, 2012

America underwater: Shocking map reveals ONE THIRD of U.S. homeowners owe more than the value of their house

Nearly one third of homeowners are underwater on their mortgages and owe an average of $75,000 more than their houses are worth, according to a startling new report by the real estate research firm Zillow.

In the hardest-hit cities, like Atlanta, Georgia, and Phoenix, Arizona, more than half of homes are worth less than their mortgages.

Las Vegas, Nevada, the city that's deepest underwater, has nearly three quarters of homeowners stuck in homes worth less than they paid for them. Read More