The Mortgage Crisis Is Worse Than You Think
There is almost $2.4 trillion in mortgage debt for homes in negative equity.
The total negative equity is $771 billion.
There are 4.1 million homeowners with more than 50% negative equity (they owe 50%+ more than their homes are worth).
Number of Underwater Homeowners
This graph shows the percent of homeowners with mortgages in negative equity for 33 states and D.C.
This is shown in three categories: >50%, 20% to 50%, and 0 to 20%.
If you look at Nevada, 17.0% of homeowners (with mortgages) are more than 50% underwater, and another 35.2% are 20% to 50% underwater. These are the homeowners most at risk for foreclosure.
Homeowners Underwater by State
