Ever wonder how many homes are owned free and clear in the United States? The answer is very surprising. According to the Unites States 2005 census, app. 33% of all homes in the United States do not have any mortgage whatsoever. So 1/3 of the homeowners are not worrying at all about being "underwater" on any home loan in any event. If you think about it, there are a lot of homeowners who also owe less then 50% of the value of their home to the bank so things are more secure then you may thought.