California has fewest ‘underwater’ homeowners in US
California has fewest ‘underwater’ homeowners in US
California has the lowest level of “underwater” homeowners in the nation.
CoreLogic calculated that 0.6% of California’s mortgages in the second quarter were larger than the value of the home backing the loan. Nationally, 1.8% of home loans are what industry insiders call underwater mortgages. Studies show borrowers in these situations are more likely to default on a loan in tough financial…