Reporting Nathan Tannenbaum
( Las Vegas, NV ) Las Vegas leads the nation in underwater mortgages, but there are signs of improvement.
The online real estate information company Zillow.com says nearly 55-percent of Las Vegas mortgage holders had debt greater than their home’s value during the first three months of 2013.
That’s double the national average, but down from 71-percent a year earlier.
Zillow is projecting that the underwater rate here will below the 50-percent mark by next spring.
Some other areas high on Zillow’s “underwater” list: Atlanta, Georgia and Riverside, California.