According to the Wall Street Journal today, nearly one in four U.S. borrowers owe more on their mortgage than their home is worth, a worrisome sign that the housing recovery could be threatened by a wave of defaults.
The WSJ newspaper said "almost 10.7 million households, or 23 percent of mortgage holders, were underwater in the third quarter, and 5.3 million have mortgages that are 20 percent higher than the value of their home as prices have plummeted since the recession began."
To help endanged homeowners weigh their options, Tim Burroughs has become a Certified Distressed Property Expert (CDPE) and started a website www.BoiseMetroShortSales.com . This website gives much-needed information for homeowners seeking help and advice. There are free reports available and a place to go to find answers.