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Underwater Mortgages Are Less Worrying Now | San Jose News
Homeowners are still stuck with underwater mortgages—where they owe more than their homes are worth—but the crisis is nowhere near as bad as during the Great Recession. Nationwide, about 1.2 million mortgages are underwater, with Texas and Florida leading in raw numbers. California, despite its high home prices, has one of the lowest percentages at just 0.7%, down from over a third during the 2009–2013 crash. The national total dropped 9% last year, while South Dakota saw a spike and New York and Illinois made the biggest improvements. For California, shaky mortgages aren’t the big story…
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