Nearly Half of Borrowers Under 40 Sitting Underwater

We find the Tampa housing market is not unlike the rest of the country. In working with prospective sellers we have observed that many would now normally be moving to upsize, downsize, or for a  job, etc., discover they simply cannot. The reason being, they would need to bring a check of $25,000, $50,000, 100,000 or more to closing to SELL their home. The values have dropped that much that fast. The same goes for many young first-time homeowners wanting to move. That’s the cold reality we see every day around Tampa Bay.

The below article,“Nearly Half of Borrowers Under 40 Sitting Underwater.” goes more into depth regarding this dilemma.
Paul and Debbie
http://www.dsnews.com/articles/negative-equity-more-common-among-younger-age-group-zillow-2012-08-23