The Top 10: Virginia Ranks #7 of States With Highest Mortgage Debt in the USA

And with high mortgage debt comes high negative equity: Virginia is #8 of states where mortgage holders owe more than the house is currently worth, approaching a whopping 30% underwater.  The Charlottesville Area, with sales at an anemic 13 year low,  has a housing market slowed by those in negative equity but simultaneously impacted much more by those mortgage holders with effective negative equity.

Top 10 States With Most Mortgage Debt via 24/7 Wall Street:
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