(Reuters) Falling home prices drag new buyers under water

Posted by Kendall Harmon

More than 1 million Americans who have taken out mortgages in the past two years now owe more on their loans than their homes are worth, and Federal Housing Administration loans that require only a tiny down payment are partly to blame.

That figure, provided to Reuters by tracking firm CoreLogic, represents about one out of 10 home loans made during that period.

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Filed under: * Economics, PoliticsEconomyHousing/Real Estate MarketPersonal FinanceThe Banking System/Sector

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Posted April 27, 2012 at 7:34 am

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