Nearly half of the nation’s mortgages are predicted to be underwater by the end of the first quarter of 2011. That means owners owe more on their home than it’s worth. Yowza.
According to MSN Money, here’s how you can tell if you are in danger:
- Lots of foreclosures in your area. Best to look to the Foreclosure Google Map to see how your neighborhood is faring.
- Lots of ‘For Sale’ signs. More than three months on the market is a bad sign.
- No jobs. Areas with the highest unemployment rates have been hit the hardest.
- Homes in disrepair. A well-kept neighborhood is a valuable neighborhood.
Where do you live and what are you seeing in your area?
Credit: MSN Money article