borrowers: 1 In 4 Borrowers Under Water In Hampton Roads
- 02/26/10 07:02 AM
According to First American CoreLogic the number of borrowers in the Hampton Roads area that are under water is about 1 in 4. Actually they say 22% but that is pretty close. If home prices continue the slide of about 5% again this year, another 21,000 or so more borrowers will be underwater. I don't think our decline will be as bad as many new first time home buyers entered the market and stablized prices a bit. Its kind of a circle, as home prices fall more borrowers are underwater, the more they are underwater the harder it is to sell … (0 comments)
According to First American CoreLogic the number of borrowers in the Hampton Roads area that are under water is about 1 in 4. Actually they say 22% but that is pretty close. If home prices continue the slide of about 5% again this year, another 21,000 or so more borrowers will be underwater. I don't think our decline will be as bad as many new first time home buyers entered the market and stablized prices a bit. 
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