BUSINESS
02/09/2011 05:50 pm ET Updated May 25, 2011

Negative Equity Soars, 27 Percent Of Mortgage Borrowers Owe More Than Their Home Is Worth

The number of borrowers who owe more on their mortgages than their homes are worth took a huge leap in the fourth quarter of 2010. A full 27 percent of borrowers are now "underwater" on their mortgages, up from 23 percent in the previous quarter, according to a new report from Zillow. Foreclosure moratoriums and falling home prices are to blame.

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