Real estate website Zillow is reporting 28.6 percent of U.S. homeowners with mortgages owe more on their loans than the dollar figures their homes could garner if sold. Southeastern cities Atlanta and Tampa, in particular, are struggling. Thankfully, Nashville is not mentioned.
The rising percentage of homes with "negative equity" or "underwater" status is due largely to how long the foreclosure sale process takes rather than home value fluctuations, said Zillow chief economist Stan Humphries.
Read the MSNBC report here .