MADISON, WI (WTAQ) - About one of every six homes with active mortgages in Wisconsin are underwater – and that number is rising.
The California firm of CoreLogic said Tuesday that 16.5 percent of Wisconsin homeowners owed more on their properties than what they’re actually worth. That covered the period from last October through December, and the rate was 0.8 percent higher than the same time the year before.
Wisconsin’s increase went against a national decline in underwater properties.
CoreLogic said 21.5 percent of U.S. home mortgages were underwater – down by 1.3 percent from the previous year.
Almost 10.5 million U.S. homes have negative equity. Nevada has the nation’s highest percentage of underwater mortgages, with almost 52.5 percent. Florida, Arizona, Georgia were next on the list.