Many southwestern Illinois mortgages 'underwater,' analysis shows
Across portions of southwestern Illinois, between 14 percent and 20 percent of homeowners have a mortgage that's 125 percent or more of their home's value as of March 31, according to a report by Attom Data Solutions, a California-based provider of property data.
A SW Illinois News analysis of the report found that in five counties in southwestern Illinois, 9.8 percent of homeowners were "seriously underwater" as defined by Attom.
In Jackson County, approximately 1 in 6 homeowners owes 25 percent more than their home's estimated market value, Attom reported. Union and Randolph county numbers are even worse, with 20 percent and 15 percent of homeowners facing a mortgage crisis, respectively.
Perry and Williamson counties fared best, with no mortgages being considered "seriously underwater."
Underwater mortgages in SW Illinois
Some homeowners in SW Illinois are "seriously underwater" on their mortgages. Where do they live?
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Source: Attom Data Solutions. Includes ZIP Codes with 2,500 or more properties with loans.