1 in 5 Mortgages Underwater = Impossible to ReFi, Difficult to Sell, Potential Foreclosure

More mortgageholders sank underwater in their debt during the First Quarter of 2009.The folks at Zillow say 21% of mortgageholders, or 1 in 5, are "underwater" nationwide. Other economists/research firms have different numbers than Zillow. Stan Humphries, Zillow's VP of Data and Analytics, explains:The analysis is based on the mortgage balance at the time of purchase and the price changes that