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Housing front roughly one quarter of all homeowners in this country are living in homes worth less than what they paid for them.
That's according to a recent report from the housing market tracking firm it indicates some thirteen million Americans had those so called underwater mortgages in the first quarter of the year.
-- -- -- -- -- We'll -- up for -- -- owning her own home like many others with the American dream five years ago she bought herself a townhouse that now like millions of other Americans.
She's under water.
When my -- in the economy just like -- was awful.
-- you think think and they don't have on some kind of profit on your property if you want to sell it.
I'm fighting is it just kept -- -- dropping dropping.
Massachusetts -- Danny Griffin says upside down homeowners don't want to sell.
And that's -- sparse inventory slowing economic recovery.
If you clear out all the foreclosed properties are a massive portion of them.
But there's no increase in the market to create new equity positions where fewer houses are now upside down what happens.
This is massive Voigt who can -- -- a program called carp the home affordable refinance program.
Offers underwater homeowners rip current on their mortgages whose loans are owned by Fannie Mae or Freddie Mac a little bit of health refinancing.
It's also been extended the good news for two more years and goes throughout 2050.
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