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IPFS News Link • Economy - Economics USA

"Under water" mortgages are growing threat to U.S.

• Reuters
Long before she filed for bankruptcy, Ann Neukomm was "under water" -- she owed more on her mortgage than her house was worth -- a situation more and more Americans are finding themselves in. Nearly 1 in 6 homeowners are finding themselves

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Comment by Ron Moss
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This situation is usually the result when bankers pray on home owners to borrow then change the values by stagnation which must cause them to drop. Mine has dropped to half of what it was before money manipulators and government effected the not so free market.