256,000 Homes Regained Equity in Q3

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Posted To: MND NewsWire

Ninety-two percent of mortgaged homeowners now have positive equity in their homes after more than a quarter-million emerged from being underwater in the third quarter of 2015. CoreLogic said, in its monthly negative equity report, that there are now approximately 46.3 million homes in the black and the dollar value of held by all homeowners increased by $741 billion during the three month period. Underwater or "upside down" borrowers, are those who owe more on their mortgages than the property is worth. Negative equity can occur because of a decline in home value, an increase in mortgage debt or a combination of both. At the end of the third quarter there were still 4.1 million homeowners without equity or 8.1 percent of those with a mortgage. That was down by 256,000 or 4.7 percent from the...(read more)

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Source: http://www.mortgagenewsdaily.com/12152015_corelogic_negative_equity.asp

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