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U.S. Cities With The Most Underwater Mortgages Q1 2009

Homes with negative equity: 38.4%Foreclosure transactions: 48.4%Shore-sale transactions: 3.3%Zillow Home Value Index: $151,392Year-over-year change: -32.1%Last time market was at current levels:  Q4 2002Change from market peak: -55.3%

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14. (tied) Madera, CA

Homes with negative equity: 38.4%

Of Homes Sold in Last 12 Months:
Foreclosure transactions: 48.4%
Short-sale transactions: 3.3%

Zillow Home Value Index: $151,392
Year-over-year change: -32.1%

Last time market was at current levels: Q4 2002
Change from market peak: -55.3%

Photo: TheTruthAbout...