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85% of Low End Homes Remain Underwater

Wednesday, June 17, 2015

More than a quarter of a million homeowners emerged from underwater the first quarter of 2015, an increase of $694 billion in positive equity in homes during the quarter.  CoreLogic said the total number of mortgaged residential properties with equity increased by 254,000 to approximately 44.9 million units or 90 percent of all mortgaged properties.

The company estimates that about 5.1 million homeowners remain in a negative equity position, 10.2 percent of homes with a mortgage, compared to 5.4 million or 10.8 percent in the fourth quarter of 2014, a quarter-over-quarter decrease of 4.7 percent  Since the first quarter of 2014 1.2 million homes have gained positive equity, an increase of 19.4 percent.

 

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