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 | In the ongoing debate about whether one should walk away from an underwater mortgage or not,one University of Arizona professor speaks out strongly in favor of taking a hike. According to Brent T. White,an associate professor of law at the University of Arizona: A failure to grasp the true economics of the situation [...] Average value of home with “underwater”mortgage $210,300 –Average loan balance $280,000 –Average amount “upside down”$70,000 Dennis Norman According to a report released today by First American CoreLogic nearly 10.7 million U.S. mortgages,or 23 percent of all mortgaged properties,are in a negative equity position meaning the borrowers owe [...] Dennis Norman According to a report issued by First American CoreLogic more than 15.2 million U.S. mortgages,or 32.2 percent of all mortgaged properties,are in a negative equity position meaning the borrowers owe more on their mortgage than their home is worth. In addition,according to the CoreLogic report,there are an additional [...] | ||||
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