Survey: 'Underwater' Mortgages To Hit 48 Percent

by Chris Arnold, NPR

A new study indicates that by 2011 nearly half of American homeowners will have a house worth less than what they owe on the mortgage. When more is owed, than what the house is worth, it's called being under water. One-fourth of U.S. homeowners are estimated to be under water on their mortgages already.

Broadcast Dates

• Morning Edition, August 6, 2009