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Too Much Truth Recap: Half of metro Atlanta mortgages underwater

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http://fellowshipofminds.wordpress.com/2011/02/09/27-of-us-homes-under-water/
waok-derrick125x90 Derrick Boazman
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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…

 

 

 

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