“Underwater Mortgages” Could Hurt Home Prices...But Not Like ’08

“Underwater Mortgages” Could Hurt Home Prices…But Not Like ’08

Find your next real estate deal with PropStream: http://propstream.com/BP

“Underwater mortgages,” properties with “negative equity,” led to a home price crash like no other back in 2008. With homeowners owing more on their properties than they could sell them for, banks were forced to take a loss, homeowners were left with nothing, and home prices began to slide. With some housing markets across the U.S. seeing underwater mortgage rates over ten percent, could we be on the same path?

If you’re worrying about whether or not a chain reaction could send home prices down, stick around. Dave goes through exactly what an underwater mortgage is, states with the most of them, what to do if YOU have an underwater mortgage, and whether or not we could be on the brink of something much bigger.

Get the real estate data you need to do your next deal at http://propstream.com/BP

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Nearly Half of U.S. Mortgaged Homes Are Considered ‘Equity-Rich’ According to Report:
https://www.biggerpockets.com/blog/half-of-mortgaged-homes-are-equity-rich?utm_source=youtube&utm_medium=description&utm_campaign=none
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CoreLogic’s Home Equity Update:
https://www.corelogic.com/press-releases/home-equity-increases-winter-spring-reducing-underwater-properties-q2/
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Top 10 U.S. States with Highest Shares of Underwater Mortgages in Foreclosure in Q2 2023:
https://www.attomdata.com/news/market-trends/figuresfriday/top-10-u-s-states-with-highest-shares-of-underwater-mortgages-in-foreclosure-in-q2-2023/
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00:00 Underwater Mortgages Are Back…
00:53 Sponsor: PropStream!
01:31 What Does “Underwater” Mean?
02:16 What Could Happen
03:09 Forced Selling
05:18 Will 2008 Repeat?
06:11 Markets in Danger
08:04 Are You Underwater?


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