About 2 million borrowers with modified mortgages are facing interest rate hikes, according to Black Knight's 
April Mortgage Monitor Report. What's more, about 40 percent of those borrowers currently remain underwater, owing more on their mortgage than their home is currently worth. The lack of equity is one of the primary drivers of mortgage defaults and “these resets may indeed pose an increased risk in the years ahead," says Kostya Gradushy, Black Knight's manager of loan data and customer analytics. "We have seen a continual reduction in the number of underwater borrowers at the national level for some time now, but modified loans show a different picture." See Nationwide, the negative equity rate
April Mortgage Monitor Report. What's more, about 40 percent of those borrowers currently remain underwater, owing more on their mortgage than their home is currently worth. The lack of equity is one of the primary drivers of mortgage defaults and “these resets may indeed pose an increased risk in the years ahead," says Kostya Gradushy, Black Knight's manager of loan data and customer analytics. "We have seen a continual reduction in the number of underwater borrowers at the national level for some time now, but modified loans show a different picture." See Nationwide, the negative equity rate 
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