Mortgage Mess: A Quarter of All Borrowers Are Underwater

by: Tim Iacono

Splashed across the front page of today's Wall Street Journal is this story about how almost 11 million homeowners in the U.S. - nearly one-quarter of all homeowners with mortgages - now owe more than their house is worth.

Also, the very cool interactive graphic shown below along with a sortable table is well worth poking around at a little in order to learn more (not here, at the WSJ).
IMAGE Click to enlargeFor example, if you follow the link above and then click atop the right-most column, you'll find that Nevada homeowners, as a group, have a loan to value ratio of 114% and a net homeowner negative equity of almost $15 billion!

While Nevada is the clear leader in negative equity share (i.e., percent of mortgages that are underwater at 65%), Georgia leads the nation with the highest percentage of mortgages in "near negative equity", defined as within 5% of negative equity.