Every morning I post a report of ALL bank owned (aka: REO or Foreclosure
) listings just listed, in all prices, in all of the Portland, Oregon Metro area…. West Linn, Beaverton, Happy Valley, Lake Oswego… all of them. Even those million dollar homes! – Kristie McD.
An Underwater Loan is a loan in which the homeowner owes more than what the home is worth, meaning that if they were to sell their home at market value they would need to bring a check to the closing table (or sell short). Oregon ranks in the top 10 for the fewest amount of underwater loans (thank the gods) but guess which states are at the opposite end of the spectrum? Check out this link to CNN Money and get the full list.