Eight ZIP codes in New York and Connecticut are also buried in debt
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California has topped the states with the most ZIP codes with high mortgage debt, according to a recent report from Experian.
Of the top 25 ZIP codes with the highest mortgage debts, 17 can be found in California, while the rest are divided between New York and Connecticut. The report showed that home values in these areas are the steepest in the US.
Moreover, the ZIP codes that have the highest mortgage balances also carry above-average credit scores. The overall FICO Score among all top 25 ZIP codes went 53 points over the national average of 703 to 756 in the first quarter. This marked the seventh quarter in a row of increase in outstanding balances, reaching $9.5 trillion.
While the overall highest mortgage balance can be found in California at 90210, Beverly Hills ($1,528,236), the area with the lowest mortgage balance is in 95070, Saratoga, Calif. ($805,813).
