Highest percentage of homeowners with negative equity in the US
By kjfitz @ 2008-11-19 10:50:11
95391 ZIP code popped up as No. 1 on a list of U.S. ZIP codes with the highest percentage of homeowners with negative equity. Nearly 90 percent are "under water," with homeowners owing far more on their homes than they are now worth.
The report, released Monday by the real estate data company First American CoreLogic, shows Mountain House is the most underwater spot in the nation.
A representative example is one home owner who paid $800,000 for her family's house in 2006. As of July, their home was worth $359,000.