Fewer St. Louis homeowners struggle with mortgages - KMOV.com

Fewer St. Louis homeowners struggle with mortgages

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By KMOV Web Producer By KMOV Web Producer

ST. LOUIS -- A new report says fewer homeowners in the St. Louis area are struggling to keep up with their mortgages.

The St. Louis Post-Dispatch cites figures released Tuesday from the real estate data company CoreLogic showing that about 11 percent of St. Louis homeowners with mortgages owed more than their homes were worth in June. That is down from 16 percent in June 2012.

Homeowners who are “underwater” on their mortgages are essentially frozen in place because they can’t sell their homes unless they can bring a big check to the closing, or convince the bank to take a loss.

Nationally, 14.5 percent of homes with mortgages were underwater in June, down from 20 percent a year earlier.

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