Underwater Mortgages

Underwater mortgages are loans that are higher than the actual market value of the property they are financing, and Chicago has the highest percentage of them among major metropolitan areas in the U.S. In report issued Wednesday, Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG) stated that Chicago had...

Dan Gilbert, Rock Ventures Founder and Chairman and Quicken Loans Founder and Chairman, talked about housing, from the trend of buying a home in cash to refinancing an underwater mortgage, while serving as a guest host on CNBC's Squawk Box Wednesday morning. Gilbert said that the mortgage...