Negative Equity Worst at Low End, Jamming 'Housing Conveyor Belt"

Hot news from AZ Home Help:

Posted To: MND NewsWire

The plight of underwater homeowners is proving to be pesky to resolve if Zillow's latest numbers on negative equity are correct. The company said today that while homeowners with a larger mortgage balance than their homes were worth dropped from 16.9 percent in the fourth quarter of 2014 to 15.4 percent in the first quarter of this year, slowing home value growth means that many could be "trapped in their mortgages for years to come." Of the estimated 7.9 million homeowners who were underwater in the quarter, Zillow says about 4 million owed their lenders 20 percent or more than the market value of their homes. This means it could be several years before those homes appreciate to a point that their owners could hope to break even on a sale. At the peak of the real estate crisis more than 15...(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

Source: http://www.mortgagenewsdaily.com/06122015_negative_equity.asp

- For more real estate news visit our website at http://www.AzHomeHelp.com