Top 10 Cities Underwater on Mortgages in Q3

Negative equity trended down slightly in the last three months

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3. Orlando, Fla.

Homeowners with Negative Mortgages:  47.7%

We’re back to Florida for No. 3, and luckily, still under the 50% mark.

In the third quarter, 47.7% of homeowners in Orlando had mortgages with negative equity, a slight improvement from the prior quarter when the amount was 51.9% but not enough to move the city from the bronze medal on this list.

Again, this sunny city has a high percentage of renters — nearly 60%, which is the same as the statewide average. Orlando has 88,600 houses, but only 81,000 are occupied. The median household income for those with a mortgage is less than $70,000.


Article printed from InvestorPlace Media, http://investorplace.com/2012/11/top-10-cities-underwater-on-mortgages-in-q3/.

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