PHOENIX - It\'s another sign of the troubling times in the Phoenix area housing market.

Several real estate experts agree that more than 50% of homeowners in the Valley are underwater.

“There have been other reports they even have worse numbers, 66-67%,” said Dr. Jay Butler, director of realty studies at Arizona State University.

http://www.abc15.com/dpp/news/real-estate-experts%3A-50%25-of-valley-homes-underwater


The program, HomePath , allows potential buyers to put down as little as 3-percent, but some believe the plan could actually lead to more foreclosures down the road.

http://www.abc15.com/dpp/money/real_estate_news/fannie-mae-program-designed-to-cut-inventory-concerns-some