How Bad Is the Underwater Problem?

Those who have suffered since the real estate bubble burst understand all too clearly how devastating the situation was to the national economy and personal fortunes. Many people ready to retire were forced back in to the workforce because retirement plans disappeared with home equity. Many savings funds were tapped or depleted trying to bail out homes with values that plummeted month after month. Millions of Americans were left reeling as they watched their primary asset become their number one liability.

This chapter details the depths of the problem of underwater homes. You might find it at least slightly ...

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