Nevada, Michigan, Florida lead 'underwater' list
Friday October 31, 2:24 am ET
By Alan Zibel, AP Real Estate Writer
6 states account for almost 60 percent of homeowners with mortgages higher than homes' value
Here's a shocker: almost half of Nevada homeowners with a mortgage owe more to the bank than their homes are worth.
Here's another: If you add in the homeowners like them in California, Arizona, Florida, Georgia and Michigan, together they account for nearly 60 percent of all homeowners who are "underwater" on their mortgages.
Nationwide, almost one out of every five homeowners with a mortgage owes more to their lender than their properties are worth. But if you subtract those states, the rate drops to about one in 10, according to a report released Friday by First American CoreLogic.
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biz.yahoo.com
10-29) 04:00 PDT Sacramento - --
California could face a $10 billion budget shortfall this year, far worse than the deficit projected only three weeks ago, officials from Gov. Arnold Schwarzenegger's office warned education leaders on Tuesday, according to several schools representatives.
sfgate.com
10-17) 18:12 PDT SAN FRANCISCO -- California employers cut 11,600 nonfarm jobs in September and the unemployment rate held steady at 7.7 percent, the state Employment Development Department reported Friday.
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