Credit Access
» Credit Access, Volume 8, Issue 7, 2008
If respondent owns their residence AND has a mortgage on that property.
18c. 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 Residence | All Small, Employing Business Owners | ||
|---|---|---|---|---|
| 1 | Yes | 13 | 8 | |
| 2 | No | 86 | 91 | |
| 3 | DK/Refuse | 2 | 1 | |
| Total (%) | 101 | 100 | ||
| N | 471 | 690 | ||
Notes: Thirteen (13) percent of small employers who own their residence and have a mortgage on that property, have a residence that is upside-down (Q#18c). Eight percent of small employers have a residence that is upside-down (Q#18c).
