We asked Yahoo News readers to share their stories of living with mortgages that are underwater. Over the next week, we’ll be sharing their stories here.
Ben, Jill and Carlyn Wilson
Purchased in 2007 for $115,000
Current value: $83,000
“We have never been late on a mortgage payment or any credit payment for that matter and my credit sits in the excellent range. However I recently found out that my home is now valued in the low $80k’s and we currently owe approximately $17k more than our home is worth, therefore I have found no bank that will refinance our mortgage for this reason.”