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ksmith47
November 4th, 2008, 6:42pm
http://news.yahoo.com/s/nm/20081031/us_nm/us_usa_economy_mortgages_3

NEW YORK (Reuters) Nearly one in five U.S. mortgage borrowers owe more to lenders than their homes are worth, and the rate may soon approach one in four as housing prices fall and the economy weakens, a report on Friday shows.

Yikes!

coljim
November 6th, 2008, 12:46am
This happened to me in the late eighties, early nineties. I did not buy more house than I could afford and put money down. I paid extra on the principal every month. As long as people did not buy more than they could afford a change in MV should not mean a loss except on paper.