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The 5 worst cities for underwater homes

Nearly 12% of all U.S. homes with a mortgage were considered seriously underwater during the second quarter of 2016, according to ATTOM Data Solutions, the parent company of RealtyTrac. That’s a staggering 6.7 million properties.

“Seriously underwater” means the homeowner has a loan-to-value, or LTV, ratio of 125% or above. In other words, they owe at least 25% more than the estimated market value of their property.

We count down to the city with the highest percentage of seriously underwater homes.

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No. 5: Toledo, Ohio

• Properties seriously underwater: 23.6%
• Nationally: 11.9% of homes underwater

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No. 4: Dayton, Ohio

• Properties seriously underwater: 24.1%
• Nationally: 11.9% of homes underwater

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No. 3: Akron, Ohio

• Properties seriously underwater: 24.9%
• Nationally: 11.9% of homes underwater

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No. 2: Las Vegas

• Properties seriously underwater: 25.7%
• Nationally: 11.9% of homes underwater

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No. 1: Cleveland

• Properties seriously underwater: 27.5%
• Nationally: 11.9% of homes underwater

RATE SEARCH: Find the best mortgage rates at Bankrate.com.