Reporting Derrick Boazman
According to the AJC.com, More than half of homeowners with a mortgage in metro Atlanta owe more than the house is worth, a new report says.
Their negative equity will slow a real estate recovery as some homeowners who would like to sell and move are “trapped in their homes,” because they cannot afford to sell at a loss, said Zillow’s chief economist Stan Humphries. It also makes foreclosure more likely if the mortgagee loses a job or hits other economic shocks, he said.
We had a great discussion about this matter. Click the audio link to hear the conversation…
