We just got the report from First American Core Logic regarding mortgage statistics.

24% of houses with a mortgage are now underwater, over 11 million in total. Another 2.3 million are within 5% of a negative equity position.

Highlights of the report:

“Negative equity continues to be concentrated in five states: Nevada , which had the highest percentage negative equity with 70 percent of all of its mortgaged properties underwater, followed by Arizona (51 percent), Florida (48 percent), Michigan (39 percent) and California (35 percent).

We can use our houses as piggy banks when the market it dropping. www.SellMyHouse.com has seen estimates that predict houses could drop another 15% from current levels….or 50% from 2006 valuations.

Hope not but time will tell.

www.SellMyHouse.com Staff Writer

Bank Owned · Foreclosures · Home Prices · housing market · sell my house · short sale · stop foreclosure