Bloomberg Article: "One Third of New Owners Owe More Than House Is Worth"

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Submitted by jficquette on August 12, 2008 - 9:52am

http://www.bloomberg.com/apps/news?pid=2...

Aug. 12 (Bloomberg) -- Almost one-third of U.S. homeowners who bought in the last five years now owe more on their mortgages than their properties are worth, according to Zillow.com, an Internet provider of home valuations.

Thanks,

John

‹ Foreclosures in the high end areas of San Diego Foreclosureradar.com July Foreclosure Report ›
You can only rely on Zillow
Submitted by cr on August 12, 2008 - 3:15pm.

You can only rely on Zillow if it says your house is worth what you think it is.

At least according to the countless people who have threatened to sue Zillow for incorrect estimates of their stucco box:

READY TO SUE ZILLOW FOR INACCURATE INFORMATION!
I may sue Zillow.com
It's time to sue Zillow
Is Zillow Home Price Correct - Can Home Owners sue Zillow for Loss
REMOVE MY HOUSE FROM YOUR WEBSITE IMMEDIATELY
Class Action Law Suit against Zillow...

We're still in the denial stage.