In Nevada, many people really have nothing to their names when it comes to their mortgages, as they have negative equity and will not benefit from any federal help.
This particular study focuses on Las Vegas, where 60 percent of "homeowners" have negative equity. They are really no better off than renters and probably worse off.
I think one can reasonably assume this negative equity is rampant all over the country now that housing prices have plummeted.
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