At Least Half of Homes ‘Seriously Underwater’ in These Zip Codes
A pedestrian walks past a boarded up residence in Trenton, New Jersey.
Photographer: Emile WamstekerThis article is for subscribers only.
A decade after the recession, more than one in 11 mortgaged properties in the U.S. is considered "seriously underwater," according to the year-end home equity report by ATTOM Data Solutions.
This dreaded classification applies when 25 percent or greater is owed than the home’s market value -- a loan-to-value ratio of at least 125 percent in industry jargon. More than five million U.S. properties fit the bill.