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Real Estate & Property Law

: Housing Wire

One in Six Borrowers Underwater on Mortgage, Zillow Says

By PAUL JACKSON

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Ouch. U.S. homeowners lost a cumulative $3.3 trillion in home equity during 2008, with $1.4 trillion of that loss coming in the fourth quarter of last year alone, according to real estate information web site Zillow.com. The company’s estimate of U.S. home values fell 11.6 percent during 2008 to an estimated $192,119, the company said [...]

Full post as published by Housing Wire on February 03, 2009 (boomark / email).

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