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.