Urban Fold

Underwater Mortgages

The narrative about the full recovery of the real estate market from the housing market crash of 2008 is only true in some parts of the country. In fact, an increasing number of homeowners owe more than their homes are worth.
Mar 22, 2015   The Washington Post - Wonkblog
Amanda Erickson explains how communities could wield the power of eminent domain to rescue residents with "underwater" mortgages, by condemning homes and allowing owners to refinance their mortgages and pay a new, lower rate.
Aug 14, 2012   The Atlantic Cities