According to a new report released by CoreLogic on Tuesday, millions of homeowners in the United States remain underwater on their mortgages – a “nagging leftover” from the housing crash.
As CNBC explains, 5.4 million homes – or 10.4 percent of all homes with a mortgage – are still in a negative equity position.
“Negative equity continued to be a serious issue for the housing market and the U.S. economy,” said Anand Nallathambi, president and CEO of CoreLogic. “We expect the situation to improve over the course of 2015.”
Image via flickr/American Advisors Group