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Underwater ATL

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It might seem unconscionable, but according to the latest Zillow Negative Equity Report, nearly ¼ of homeowners in metro Atlanta remain underwater, and many have little hope of surfacing soon. More than 23 percent of metro ATL is grappling with negative equity, which isn't quite as severe as Chicago (23.7 percent) or bottom-feeders Las Vegas (25 percent), so that's a relief. Atlanta Agent Magazine breaks down those numbers to find that the majority of underwater mortgage holders in Atlanta owe a frightening 120 percent or more on their houses — which means they're still in submarines, not close to snorkeling. [Image: AAM]