Nearly 102,000 OC Homes are "Underwater"

By the end of 2011, another 4,000 homes in Orange were underwater (a house is considered underwater when the amount owed on the mortgage is greater than the value of the house). With those additional numbers, it is estimated that 101,841 OC homes were underwater by the end of 2011.

Of the 557,000 homes with mortgages in OC, 18.3% were underwater.

In California, 30% of home mortgages were underwater, the 6th highest percentage amoung the states.

Nationwide, 22.8% of home mortgages were underwater.

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