Although home values are rising, thousands of Tampa Bay homeowners still owe more than their property is worth.
According to RealtyTrac, 24.8% of all bay area borrowers are “seriously” underwater on their homes, meaning they owe at least 25% more than the property’s value.
Only Lakeland, Fla., Cleveland, Las Vegas, Akron, Ohio, and Orlando had higher percentages of underwater homeowners in the second quarter of 2015.
Source: www.nationalmortgagenews.com
Although home values are rising, thousands of Tampa Bay homeowners still owe more than their property is worth.
According to RealtyTrac, 24.8% of all bay area borrowers are “seriously” underwater on their homes, meaning they owe at least 25% more than the property’s value.
Only Lakeland, Fla., Cleveland, Las Vegas, Akron, Ohio, and Orlando had higher percentages of underwater homeowners in the second quarter of 2015.