U.S.

2015 Home Equity

US
Underwater9.32%
Not underwater84.10%

U.S.

% Have Home Underwater

US
201214.48%
20159.32%
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Having an underwater mortgage, meaning the balance on a mortgage is higher than the value of a home, can keep many Americans away from the key financial benefits of owning a home. If an individual has an underwater mortgage, they will have to pay the difference if they sell their home, and may find refinancing their mortgage difficult.

When one enters into a mortgage contract, it is critical to realistically consider both mortgage payments relative to income and to understand the impact that volatility in the housing market can have on the value of one’s home.