The Toledo, Ohio, area is among the top five metro area in the country with the highest share of mortgaged properties that are "seriously underwater," that is, more is owed than the property is worth.
According to a second quarter
A home is "seriously underwater" when the combined loan amount secured by the property is at least 25% higher than the property's estimated market value.
Attom said 20.2% of metro Toledo homes with a mortgage were seriously underwater.