States where citizens carry the most mortgage debt – WA # 5 (& that’s not a bad thing!)

States where citizens carry the most mortgage debt  – Washingtion comes in at # 5 (& that’s not a bad thing!)

“How much residents of each state owe on their mortgages is an interesting statistic. For the most part, residents of the states with the highest average mortgage debt are not in trouble. While the average home price in these states dropped in value during the recession, the foreclosure rates in these states are among the lowest in the country. The reason: residents of these states can generally afford to lose and owe more money than their counterparts in other states…

…Washington’s median home value in 2010 was the ninth-highest in the country. Home values actually increased 1.6 percent during the recession. As a result, foreclosures in the state are low…”

Read Full Story on MSNBC.com…