By Jann Swanson
Posted To: MND NewsWire
Even though the number of underwater homes increased seasonally in the fourth quarter of 2014, CoreLogic reports that 1.2 million borrowers regained equity in their homes during the year. At year’s end approximately 44.5 million homeowners or 89 percent of those with a mortgage had some equity in their homes compared to 6.6 million homes, or 13.4 percent, reported for Q4 2013. The 1.2 million decrease in the numbers represents a change of -18.9 percent. Borrower equity increased during the year by $656 billion. From Quarter 3 to Quarter 4 approximately 172,000 homes slipped from positive to negative equity bringing the total number of mortgaged homes that were underwater to 5.4 million or 10.8 percent of the total. This was an increase of 3.3 percent from the 5.2 million homes or 10.8 percent…(read more)
Via:: Weak Year-end Home Values Increase Underwater Numbers
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