March 6, 2009
Report: 15.7 Percent Of Worcester Mortgages Underwater
A new report from First American CoreLogic shows that 15.7 percent of Worcester mortgages were in negative equity as of the end of 2008.
That's less than the national figure of 20 percent, but it still represents 29,724 properties. Another 5.2 percent of Worcester mortgages are close to falling underwater, according to the report.
The national average is heavily skewed by a handful of states with high negative equity. Nevada is in by far the worst shape, with more than half of mortgage borrowers underwater.
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