New report: one-quarter of county homeowners without equity to sell

    A new report says one quarter of mortgaged homeowners in Santa Clara County don't have the equity needed to comfortably sell a home.
    Zillow says a homeowner needs about 20 percent equity to put a house on the market and cover the down payment for their next home and other fees and expenses.
    Zillow says 25 percent of Santa Clara County have what it calls "effective negative equity": meaning the house is worth less than its mortgage or lack enough equity for a homeowner to afford a move.
    Bay Area wide, Zillow says 295-thousand homes with mortgages are in this condition, and is helping keep homes off the market.

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