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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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