Getting your player ready...
Greeley ranks fifth among “America’s Most Underwater Housing Markets,” according to a USNews & World Report analysis of negative equity.
The publication states that in 45 percent of Greeley’s single-family mortgages, borrowers owe more than their homes are worth, making them a greater risk of foreclosure while making it more difficult for owners to refinance.
Las Vegas, Nev., ranked first, followed by Merced, Calif., Phoenix and Orlando. After Greeley, Bend, Ore., was sixth, followed by Minneapolis-St. Paul, Minn., Memphis, Cleveland, Ohio, and Grand Rapids, Mich.
