Nearly one third of Palm Beach County mortgages underwater

In Palm Beach County, 101,133 properties, or 30.4
percent of all of the properties in the county, are mortgaged for more
than their current value, according to data released today by First
American CoreLogic. Another 4.1 percent of mortgages are nearly
underwater. Nationally, more than 8.3 million homes, about 20 percent
of all mortgaged properties, were underwater as of the end of 2008.