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Portland's underwater mortgages fall

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Thursday, November 21, 2013

More than half of the 144,000 Portland-area underwater mortgages are back in positive equity.

About 71,000 homes, or 16.9 percent of mortgaged homes in the metro, remain underwater by about $5.25 billion.

Millions of U.S. homeowners found themselves in so-called “negative equity” after the housing bubble burst and prices began to crash. People who had recently bought their home, especially with a small down payment, or had taken out second mortgages found their home’s value had fallen below the amount of their home loans.

Read more at OregonLive.com.

 

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