Almost One Quarter of Mortgages Underwater

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As reported by CNN, “Nearly 25% of all mortgage borrowers were underwater, meaning they [owe] more on their loans than their homes are worth.”

Wondering what the worst market for underwater mortgages turned out to be? Nevada, with 70% of all mortgaged properties reportedly underwater, followed closely by Arizona—that state has 51% of all mortgages underwater.

It’s no wonder that both Nevada and Arizona rank near the bottom of our most recent installment of the Happiness Index.

—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at BankingMyWay.com.

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