In Alabama, 1 in 10 are Underwater on their Mortgage Loan

By: AL.com
By: AL.com

One in ten Alabamians are upside down on their mortgages, according to Core Logic.

The rate is lower than the national average of 14.5 percent. Core Logic says some 90 percent of Alabama borrowers have some positive equity stake in their home. However, they are carrying more debt on average relative to the full value of their homes.

More than 28 percent of Alabama borrowers own an amount equal to at least 80 percent of their home’s value.


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