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Why the Mortgage Crisis Is Far From Over

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The housing market has recovered sharply from its worst levels following the mortgage crisis. But even five years later, millions of homeowners are still struggling under huge amounts of home debt.

In the following video, Dan Caplinger, The Motley Fool's director of investment planning, looks at recent data from RealtyTrac noting that 9.3 million homeowners remain underwater on their homes by at least 25%. Dan points out how even a big rise in prices and efforts from JPMorgan Chase (NYSE: JPM  ) , Bank of America (NYSE: BAC  ) , and Wells Fargo (NYSE: WFC  ) to agree to modify customer mortgages haven't made a huge dent in those numbers. Dan notes that big problems exist in hard-hit states like Nevada and Florida, causing potential problems for Hovnanian (NYSE: HOV  ) , PulteGroup (NYSE: PHM  ) , and other homebuilders seeking to recover from the worst of the crisis. 

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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On January 19, 2014, at 10:08 AM, tadviv333 wrote:

    BAnks are losing out at the retail end because they have dropped customer service from their vocabulary.

    Walk into any Bank of America and you will see 1 to 2 tellers at the counter, if you are lucky.

    Lines are the new normal. Tellers must up sell each time they take a transaction.....

    Move your money to a credit union, and watch as the large banks fall.

    Time for a break up of these banks...JMHO

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Dan Caplinger
TMFGalagan

Dan Caplinger has been a contract writer for the Motley Fool since 2006. As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool.com. With a background as an estate-planning attorney and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.

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Related Tickers

12/17/2014 4:00 PM
BAC $17.26 Up +0.54 +3.23%
Bank of America CAPS Rating: ****
HOV $3.91 Up +0.13 +3.44%
Hovnanian Enterpri… CAPS Rating: **
JPM $59.77 Up +1.34 +2.29%
JPMorgan Chase & C… CAPS Rating: ****
PHM $20.47 Up +0.68 +3.44%
PulteGroup, Inc. CAPS Rating: ***
WFC $53.79 Up +1.02 +1.93%
Wells Fargo CAPS Rating: ****

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