National foreclosure crisis could get worse

National foreclosure crisis could get worse

Negative equity remains a problem for the nation’s homeowners, according to a U.S. News and World Report story:

Loans currently in the foreclosure process amount to about $45 billion in negative equity, according to RealtyTrac CEO Brandon Moore. But that figure balloons to $1.2 trillion when you add in the more than 12 million underwater mortgages that haven’t started the foreclosure process—26 times the negative equity currently associated with troubled loans.

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