Housing crash still drowning homeowners

By Diana Olick | CNBC

Home prices are still rising, and the economy is improving, but the ills of the housing crash are far from cured: 7.4 million borrowers were still “seriously” underwater on their mortgages at the end of June, according to RealtyTrac.

The real estate information company defines that as the loan amount being at least 25 percent higher than the property’s estimated market value.

Over 13 percent of all properties with a mortgage are in this predicament, and that is actually a slight increase from the first quarter of this year.

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July 30, 2015

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