By Jann Swanson
Posted To: MND NewsWire
A second company has now reported a recent increase in the number of underwater residential properties in the U.S. Last month Corelogic said that approximately 172,000 homes slipped from positive to negative equity in the fourth quarter of 2014, a change the company called “seasonal.” Today RealtyTrac reported an increase in the first quarter of 2015 of 0.4 percent in the number of properties with negative equity, the first increase in nearly three years. Both reports noted year-over-year declines in underwater properties for the respective quarters. In its U.S. Home Equity & Underwater Report for the first quarter RealtyTrac estimated a total of 7,341,922 properties were seriously underwater, i.e. the combined loan amount secured by the property is at least 25 percent higher than the property…(read more)
Via:: Cash-outs Affecting Negative Equity Trends
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