Just 5% of underwater mortgages - and there are still as many as 13.6M U.S. homes with negative...

|By:, SA News Editor
Just 5% of underwater mortgages - and there are still as many as 13.6M U.S. homes with negative equity or close to it - might get principal reductions from the $25B mortgage settlement worked out by banks and state AGs, according to the Brookings Institute, and the average underwater homeowner who qualifies would receive only ~$20K in principal reduction.