28.6% Home Mortgages Underwater

This is an incredibly high number.  I will look for local Ventura County mortgage numbers to compare.  In the meantime, this explains a good deal about the bankruptcy crisis, too. From MSNBC.
A whopping 28.6 percent of homeowners with mortgages owe more on their loans than their homes could sell for, according to quarterly data released Tuesday by Zillow, a real estate website. That's up from 26.8 percent in the second quarter. Home values declined only 0.2 percent from the second quarter but were down 4.4 percent year over year.
More at http://www.venturadebtlaw.com
Low fee and high quality Ventura, Oxnard, Camarillo, Ojai, and Santa Paula Bankruptcy Lawyer