The 15 states with the most underwater mortgages

Bob Morris, on Jul 18, 2010, 7:30 pm

The top three are

Florida. 47.8%
Michigan. 38.5%
California. 35.1%

These are staggeringly high numbers. It’s hard to see how the economies of those states will recover any time soon.

EnCee
Things are getting worse in a qualitative mode too. More and more the new defaults and people going under water are prime borrowers as opposed to sub-prime.