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June 17, 2010 Graph of the Day for June 17, 2010
"The plan I'm announcing focuses on rescuing families who have played by the rules and acted responsibly: by refinancing loans for millions of families in traditional mortgages who are underwater or close to it; by modifying loans for families stuck in sub-prime mortgages they can't afford as a result of skyrocketing interest rates or personal misfortune; and by taking broader steps to keep mortgage rates low so that families can secure loans with affordable monthly payments... And through this plan, we will help between 7 and 9 million families restructure or refinance their mortgages so they can afford -- avoid foreclosure." President Obama, February 2009.
Mortgages: underwater and delinquent  Source: GAO. Hoven's Index for June 17, 2011 Percentage of home loans with negative equity (underwater) at the end of 2009, top six states: Nevada: 80.0% Michigan: 76.1% Florida: 71.8% Arizona: 68.4% California: 61.3% Rhode Island: 53.8% Number of states with fewer than 5% of home loans underwater: 15 Source: GAO. Graph of the Day Archive. |
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