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5 Worst States for Homeowners

The five states with highest rates of negative equity

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#1: Nevada (61.1%)

Nevada House in DisrepairThe entry on this list with by far the highest proportion of underwater mortgages, Nevada also leads the nation in unemployment — with 13.4% of its citizens out of work as of August 2011.

The state currently has 561,341 mortgages, of which 343,256 have negative equity. Another 25,063 have near-negative equity. Nevada’s loan-to-value ratio stands at 113.8%, and net homeowner equity is negative $13.4 billion.

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