The Seattle area has more “underwater” homeowners than the nation as a whole, but these homeowners are twice as likely to keep up on their payments as underwater homeowners elsewhere, according to a first-quarter report from Zillow.com, the online Seattle home-listing service.
Nationwide, nearly a third of U.S. homeowners are “underwater” on their mortgages, meaning they owe more than their house is worth. But 90 percent of those people still are making their payments on time. The remaining 10 percent are delinquent on their loans by 90 days or more.
In the Seattle metropolitan area, 39.6 percent of homeowners are underwater, but almost 95 percent of those are current on their loans. Only 5.2 percent of local homeowners are delinquent on their mortgage payments.