With real estate markets in a downward spiral and many Americans having upside down mortgages (owing more than their homes are worth), a recent study by Forbes seems appropriate.

Forbes studied the 150 largest housing markets in America, and using data from the US Census and the National Association of Realtors, they created a list of the 50 communities with the highest amount of homeowner debt.  For this study, they looked at the median house price, percent the house value changed since 2007,  number of outstanding mortgages, houses that had second mortgages or home equity loans, and houses that had both second mortgages and home equity loans.  Studying all of this data they compiled their list.

Sacramento, California, was found to be the community with the most homeowner debt.  Did your community make the list?

Click here to read the whole article.