Report: Nearly One in Five Owe More Than Homes Are Worth

How’s this for odds: If you have a house in Las Vegas, there’s a 58% chance you owe more on your mortgage than the place is worth. Nevada, of course, is ground zero for the real estate bust — but it’s hardly alone in having truckloads of “underwater” homeowners. As of December, 19.8% of mortgage holders nationwide had negative equity in their houses, according to a new report by loan-tracker First American CoreLogic.

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