28% of Georgia Mortgages Underwater
Press release from the issuing company
Friday, August 27th, 2010
Some 28 percent of homeowners in Georgia were underwater in their mortgages in the second quarter.
CoreLogic reported Thursday 449,969 negative equity mortgages out of the Peach State’s 1,601,921 total mortgages.
A borrower is in negative equity if he or she owes more on the mortgage than the home is worth.
