Credit Access
» Credit Access, Volume 8, Issue 7, 2008
If respondent owns all or part of the building or land on which their business is located and has a mortgage on the property.
17c. Is the property upside-down, that is, is this property worth LESS on the open market today than the mortgage or mortgages on it?
| Response | Owns Mortgaged Business Premises | All Small, Employing Business Owners | ||
|---|---|---|---|---|
| 1 | Yes | 6 | 2 | |
| 2 | No | 91 | 97 | |
| 3 | DK/Refuse | 3 | 1 | |
| Total (%) | 100 | 100 | ||
| N | 212 | 690 | ||
Notes: Six percent of small employer/owners who own all or part of the building or land on which their business is located and have a mortgage on the property, have an upside-down property (Q#17c). Two percent of small employer/owners own an upside-down business premises (Q#17c).
