While we're in nowhere near the situation of Nevada, where 70% of properties are worth less than their loan amounts, about 7.3% of Boulder and Longmont real estate mortgages are "underwater," according to a report by First American CoreLogic and an article in the Boulder County Business Report. Negative equity is at 23.5 percent in the Denver/Aurora/Broomfield metro area, and at 8.9 percent in the Fort Collins/Loveland metro area, the study said. Colorado's negative equity figure stands at 20.2 percent.
A negative equity situation becomes problematic when a homeowner needs to sell because of relocation job loss, or other hardship. Options include a short sale, foreclosure or bringing cash to closing.
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