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States with the most negative equity: Check the full list here

You could find yourself in financial trouble very fast if the value of your house drops or if your home loan obligation rises.

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States with the most negative equity: Being “underwater” on your mortgage is one of the things that might jar your nerves the most when it comes to money.

When your mortgage balance exceeds the value of your home, you find yourself in this unpleasant situation. You could find yourself in financial trouble very fast if the value of your house drops or if your home loan obligation rises.

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No change in December 15 mortgage rates for 15- and 30-year terms

States with the most negative equity

According to CoreLogic’s most recent quarterly Homeowner Equity Insights report, these are the states with the most proportion of homeowners who are underwater on their mortgage.

1. Louisiana

As of the third quarter of 2023, the state’s share of negative equity was 6.1%.

In Louisiana, the housing market is cooling. In the list of “16 Places Where Homes Are Sitting on the Market Longer,” New Orleans is currently at the top.

2. Iowa

As of the third quarter of 2023, the state’s proportion of negative equity was 4.9%.

For those in Iowa who are underwater, there is some solace in knowing that the tax collector is taking a smaller bite out of their paycheck. “10 States That Have Lowered Property Taxes in 2023” includes Iowa.

3. Oklahoma

As of the third quarter of 2023, the state’s share of negative equity was 4.1%.

Some Oklahoman homeowners are not only underwater but also unable to make their monthly payments. In the article “15 Places Where the Most People Are Behind on Their Mortgage,” Tulsa was listed.

Additional states having the highest negative equity

The remaining states where at least 3% of homes are impacted by negative equity are as follows:

  1. North Dakota (3.7 per cent as of Q3 2023)
  2. Kentucky (3.4%).
  3. 3.3% for Arkansas
  4. New York (3.3%).
  5. Three percent of Nebraska
  6. Illinois (3%)
Tarique Anwer
Tarique Anwerhttps://www.eduvast.com
Tarique Anwer obtained his undergraduate degree from Aligarh Muslim University and his Master of Business Administration (MBA) from Annamalai University. He commenced his professional journey at Bank of America. He is an experienced Media professional with demonstrated expertise in news writing, content creation, and people management.

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