IRVINE, CA—There were 6.4 million US propertiesseriously underwater at the end of 2015, according toRealtyTrac's Year-End 2015 U.S. Home Equity& Underwater Report.
The housing data experts at RealtyTrac define seriouslyunderwater as a combined loan amount secured by the property thatis at least 25% higher than the property'sestimated market value, and say that represents 11.5% of allproperties with a mortgage.
The report is based on publicly recorded mortgage and deed oftrust data collected and licensed by RealtyTrac nationwide alongwith an industry standard automated valuation model (AVM) updatedmonthly on RealtyTrac's entire database of more than 140 million USproperties.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
