Zillow, a mortgage research firm that is a known resource for where the U.S. is headed with housing values and debt, has created anew negative-equity report that shows almost a third of U.S. borrowers are under water because of what the housing bubble's collapse did to prices across the board.
In its first Negative Equity Report, Zillow says 31.4% of U.S. homeowners with a mortgage are under water, though that is down 1 percentage point since the first quarter of 2011.
On average, a U.S. homeowner owes $75,644 more than what the house is worth.
Zillow says that nearly 5% of homeowners with a mortgage owe more than twice what their house is worth.
However, 90% of underwater homeowners are current on their mortgages and continue to make payments.
