Will Nearly Half Of Mortgages Be Under Water In 2011?
Deutsche Bank, which is also one of the largest and most respected financial institutions in the world, recently made a prediction that by 2011, nearly half of all US homeowners with a mortgage will be %26ldquo;under water%26rdquo; by then. Under water (or underwater) is a financial term which indicates that a home is worth less than what is owed on the loan. Holders of these types of loans are considered %26ldquo;upside down%26rdquo; and would lose money if they were to sell their homes. When the real estate market has a s