New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

ManTech International Employees: Navigating the Tides of Home Value Changes in Key States

Amid fluctuating economic conditions, the U.S. housing market has experienced significant shifts. Recent analysis by ATTOM reveals that while some regions have seen robust increases in property values, others are experiencing steep declines, leading to scenarios where mortgages exceed the market value of properties. For ManTech International employees, this information is particularly relevant, as these economic trends can influence personal investment and property decisions.

Underwater mortgages are primarily observed in ten states where various economic factors, including reduced demand for fossil fuels and demographic changes, have significantly impacted property values. This phenomenon is notably severe in states tied to industrial sectors facing economic recessions, which is relevant for regions where ManTech International has significant operations.

ATTOM’s comprehensive study , covering over 155 million properties in the U.S. during the second quarter of 2024, highlights areas like Louisiana, Mississippi, and Kentucky with the highest rates of underwater mortgages. These issues often stem from a mix of economic downturns, natural disasters, rising unemployment, and population decline, especially in regions where industries such as oil and gas play a key economic role.

The presence of underwater loans can have considerable impacts on homeowners and the broader economic landscape of an area. It often signals broader issues, such as slow economic momentum and fewer employment opportunities, which may resonate with ManTech International’s community, leading to reduced property values due to declining demand.

States with the Highest Rates of Underwater Mortgages

Louisiana : 10.5% of home loans are severely underwater.
Mississippi : 6.8%.
Kentucky : 6.3%.
Arkansas : 5.4%.
Iowa : 5.0%.
North Dakota : 5.0%.
Nevada : 5.0%.
Virginia : 4.7%.
Illinois : 4.0%.
Alabama : 3.9%.

This data highlights the financial strain and challenges homeowners in these regions face. However, there are signs of potential relief. Rob Barber, CEO of ATTOM, notes an uptick in buyer demand nationwide, spurred by decreasing interest rates this summer. These conditions may help stabilize housing markets and support property values, offering some relief to those with underwater loans. This shift may also impact ManTech International employees considering relocation or property sales in these areas.

Featured Video

Articles you may find interesting:

The construction sector’s changes reflect notable economic transformations, particularly the move toward alternative energy sources, which has significantly impacted fossil-fuel-producing states like Louisiana, Oklahoma, and Kentucky. Additionally, demographic shifts, including migration to areas with more job opportunities, have intensified property value declines in the Midwest and South. ManTech International employees may want to consider these trends when planning long-term property investments.

Despite these challenges, market stabilization holds potential to support gains in property values, offering a path for homeowners managing underwater mortgages. The balance between declining and stabilizing markets emphasizes the real estate sector's complexity and its responsiveness to broader economic changes, a dynamic that ManTech International employees must approach thoughtfully.

Understanding these dynamics is crucial, particularly for stakeholders in the real estate sector, as they face the effects of economic shifts on property values. The situation calls for close monitoring of market trends and proactive steps to manage the effects of economic downturns on real estate—especially relevant for ManTech International employees involved in or considering real estate investments.

For homeowners nearing retirement, the tax implications of selling an underwater property can be substantial. According to IRS guidelines , if a loan is forgiven in a foreclosure or short sale for less than the requested amount, the unpaid sum may be considered taxable income. However, the Mortgage Forgiveness Debt Relief Act offers a tax exemption for some homeowners by excluding this forgiven debt from their taxes if it was their primary residence. This measure lasts until the end of 2025 and is particularly important for those in states with high rates of underwater mortgages, including ManTech International employees planning their retirement strategies.

Navigating the property market in these ten states with high underwater mortgage rates is like sailing through turbulent seas. Much like a seasoned captain, one must understand the complex interplay of economic and demographic changes affecting property values. In areas like Louisiana, Mississippi, and Kentucky, where shifts in key industries have transformed the economic landscape, the challenge is to steer toward a financially stable outcome. Careful management can help ManTech International employees maintain stability in retirement despite challenging market conditions.

What is the 401(k) plan offered by ManTech International?

The 401(k) plan at ManTech International is a retirement savings plan that allows employees to save a portion of their salary before taxes are deducted.

Does ManTech International match employee contributions to the 401(k) plan?

Yes, ManTech International offers a matching contribution to employee 401(k) accounts, which helps employees grow their retirement savings.

How can employees enroll in the 401(k) plan at ManTech International?

Employees can enroll in the 401(k) plan at ManTech International by completing the enrollment process through the company’s benefits portal or contacting HR for assistance.

What are the eligibility requirements for participating in ManTech International's 401(k) plan?

Generally, all full-time employees of ManTech International are eligible to participate in the 401(k) plan after completing a specified waiting period.

Can employees of ManTech International change their contribution rate to the 401(k) plan?

Yes, employees at ManTech International can change their contribution rate at any time, subject to the plan's guidelines.

What investment options are available in ManTech International's 401(k) plan?

ManTech International offers a variety of investment options in its 401(k) plan, including mutual funds, target-date funds, and other investment vehicles.

Is there a vesting schedule for the employer match in ManTech International's 401(k) plan?

Yes, ManTech International has a vesting schedule for employer matching contributions, which means employees must work for a certain period to fully own those contributions.

When can employees of ManTech International access their 401(k) funds?

Employees of ManTech International can access their 401(k) funds upon reaching retirement age, or in certain circumstances such as hardship withdrawals or loans.

How does ManTech International communicate changes to the 401(k) plan?

ManTech International communicates changes to the 401(k) plan through employee newsletters, the company intranet, and direct emails to employees.

Are there any fees associated with ManTech International's 401(k) plan?

Yes, like most 401(k) plans, ManTech International's plan may have administrative fees and investment-related fees, which are disclosed in the plan documents.