Nearly half of Tampa Bay homeowners underwater on mortgages

Three years of depreciation have left close to half of Tampa Bay homeowners owing more on their mortgages than their homes are worth. In a September report put out by First American CoreLogic, a real estate information company, 46 percent of residential properties in the Tampa Bay area struggled with negative equity. That's 314,183 out of 684,822 homes. In Florida, about 2 million of 4.6 million home mortgages were underwater, for a rate of 45 percent. The number of upside-down homeowners has been rising in Tampa Bay and Florida. Eleven percent more Tampa Bay properties were underwater in September than in June, when First American's last report came out.

Click here to enter the Tampa Realtors MLS (updated daily)
Register to receive an email every morning of today's new listings
Visit my website or contact me by email