10
Sep

CoreLogic Confirms Improving Equity Picture, but Pace may Change

Posted To: MND NewsWire

While they don’t agree on the numbers or use the same timeframes, the two reports on underwater mortgages released in the last week do conclude that homeowners are rapidly recapturing the equity they lost so suddenly late in the last decade. Last week RealtyTrac announced its findings that some 600,000 homeowners had emerged from being “deeply underwater” (that is with loan-to-value ratios in excess of 125 percent) just since May. Today CoreLogic said that more than 2.5 million more residential properties became equity-positive during the second quarter. The CoreLogic report put the number of mortgaged residential properties with equity at 41.5 million and the number still underwater at 7.1 million or 14.5 percent of all homes with a mortgage. At the end of the previous quarter there were 9…(read more)

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