You must have heard the newspapers talk about those who own more on their home than what it is now worth because of falling home values, excessive home equity loans, etc. Those people are "underwater" in their mortgage. They have negative equity.
A LendingTree.com report shows:
Florida has 40% of homeowners with negative equity
That’s terrible! What is the situation on underwater mortgage in Wisconsin?
Just 13.7% of loans in Wisconsin have negative equity.
While that is still too many, it is always good to localize national news. Wisconsin is faring much better than most states. Don’t beleive all the national real estate news you hear – it may not apply in Wisconsin. Come to the place where we share Wisconsin real estate news, the First Weber Wisconsin real estate blog. Or, connect with a First Weber agent for ultra-local news in your community.