The San Francisco Chronicle recently compiled a list of the 15 states with the highest percentage of "underwater" mortgages:
1. Nevada: 69.9% of all mortgages
2. Arizona: 51.3% of all mortgages
3. Floria: 47.8% of all mortgages
4. Michigan: 38.5% of all mortgages
5. California: 35.1% of all mortgages
6. Georgia: 27.8% of all mortgages
7. Virginia: 24.3% of all mortgages
8. South Dakota: 23.8% of all mortgages
9. Maine: 23.8% of all mortgages
10. West Virginia: 23.8% of all mortgages
11. Louisiana: 23.8% of all mortgages
12. Mississippi: 23.8% of all mortgages
13. Wyoming: 23.8% of all mortgages
14. Maryland: 22.9% of all mortgages
15. Idaho: 22.7% of all mortgages
The national average for underwater mortgages is 23%, according to First American Core Logic. Approximately 20% of Colorado mortgages are underwater, based on First American's automated valuation model.
