Nearly 1 in 3 homeowners with a mortgage in L.A. County owes more than the property is worth, new data show. These underwater loans hinder mobility and hurt prices because they tend to stymie the important move-up market.Even as a tentative housing recovery in the Southland appears underway, a big stumbling block remains: the vast number of underwater homeowners.
Stories Related to Negative Equity Remains A Drag On Housing Market
By Alejandro Lazo, Los Angeles Times, Los Angeles Times
Thu, 05/24/2012 - 5:00am
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