Prompts winter weather advisories as cold air moves in Friday night

MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all. 

Turn Up Your Support

It's been nearly seven years since the housing bubble burst and put many homeowners underwater on their mortgages - meaning that they owed more on their homes than their homes were worth. Nationally, 

more than 6 million homes remain underwater

, or about 13 percent of homes with a mortgage. In Minnesota, that number is around 10 percent.


Now that the housing market is picking up, is there anything those homeowners can do to regain their hold on their homes and their finances? We talk with two experts about all things related to mortgages, including reverse mortgages and underwater mortgages.

'Underwater' mortgages decline in Minn. as housing values recover


As home prices rise and homeowners gain more equity in their properties, their risk of foreclosure drops.

The improving home equity picture could prompt more Minnesotans to list their homes for sale, said Herb Tousley, director of real estate programs at the University of St. Thomas.

"As they come into a situation where they have some equity now, I think you're going to start to see more of those houses come on to the market now to help us with the inventory situation," he said.

The inventory of homes for sale in the Twin Cities is at a roughly 10-year low. (MPR News)

Business and Economic News

Now that the housing market is improving, we take stock of what's ahead for those who were hurt.

Can underwater homeowners regain their footing?

Go Deeper.

Like this?