Posts Tagged ‘underwater’

14 Million Homeowners Now “Equity Rich”

Posted on August 23, 2017 by Laura Lam

Home equity is growing as home prices rise across the U.S., and the number of equity-rich properties increased by 1.6 million from last year, according to the Q2 2017 U.S. Home Equity and Underwater report from ATTOM Data Solutions, a multi-sourced property database.  By the end of the second quarter, ATTOM recorded more than 14 million equity-rich properties, properties where the combined loan amount secured by the property was 50% or less than the estimated market value. This increase is up by nearly 320,000 properties from the previous quarter and up 1.6 million properties from last year to 24.6% of all…

Negative Equity Continues Slow & Steady Decline

Posted on July 31, 2017 by Laura Lam

The U.S. negative equity rate – the share of all homeowners with a mortgage that are underwater, owing more on their home than it is worth – fell to 10.4% in the first quarter of 2017, the 20th straight quarterly decline. But the speed at which negative equity is falling has slowed dramatically. The national negative equity rate fell from 10.5% at the end of 2016 and 12.7% in Q1 2016, leaving slightly more than 5 million Americans with a mortgage underwater. The rate is down substantially from its peak of 31.4% in Q1 2012, when more than 15.7 million Americans…

Underwater Mortgages Doing Swimmingly, at 11-Year Low

Posted on July 17, 2017 by Laura Lam

The number of underwater mortgage borrowers has fallen to below 2 million for the first time since 2006.  According to the recent mortgage report from Black Knight Financial, there is a 16% decline in underwater borrowers in the first quarter of 2017 with 350,000 borrowers regaining equity. “The steady upward trajectory of home prices continues to improve the equity positions of many homeowners,” said Black Knight Data & Analytics Executive Vice President Ben Graboske. “Over the past year, we’ve seen a 35% decline in the total underwater population. As of today, there are 1.8 million underwater borrowers remaining, the first…

Millions of Homes Still ‘Seriously Underwater’

Posted on May 16, 2017 by Laura Lam

Since the housing recovery began a few years ago, millions of homeowners have gotten their heads back above water due to rising home prices.  That said, there are still millions who are still underwater. In its latest report, ATTOM Data Solutions found nearly 5.5 million homes in the “seriously underwater” category at the end of the first quarter. Homes in that grouping have mortgages that are at least 25% more than the homes’ current value.  The report says the number of homes seriously underwater actually rose from the number at the end of the fourth quarter, suggesting a worsening of…

Underwater Home Loans Sink to New Low

Posted on February 20, 2017 by Laura Lam

At the end of the year, 2016 held 1 million less seriously underwater properties than the year before, according to the Year-End 2016 U.S. Home Equity and Underwater Report from ATTOM Data Solutions, a fused property database.  Rising home prices and low inventory prices caused home buyers to struggle, however current homeowners reaped the benefits of the increased equity. At the end of 2016, 5.4 million properties were seriously underwater, the combined loan amount secured by the property was at least 25% higher than the property’s estimated market value, according to the report. “Since home prices bottomed out nationwide in the first…

Making Gains: Rising Values Help Underwater Homeowners

Posted on October 07, 2016 by Laura Lam

About 548,000 U.S. homeowners regained equity in the second quarter, bringing the percentage of homes with positive equity to 92.9% of all mortgaged properties, or approximately 47.2 million homes, according to CoreLogic.  Nationwide, home equity increased by $646 billion, or 9.9%, from the end of the second quarter of 2015 to the end of the second quarter of 2016. Although about 3.6 million homes – or 7.1% of all homes with a mortgage – remained in negative equity, this was, nevertheless, a decrease of 13.2% compared with 4.2 million homes, or 8.2%, in the first quarter and a decrease of…

Low-Priced Homes Still Struggle With Negative Equity

Posted on April 05, 2016 by Laura Lam

While the percentage of properties with negative equity decreased during 2015, the lowest-priced homes continued to struggle to regain value, according to Black Knight Financial Services.  The number of underwater borrowers dropped by 31%, or 1.5 million homeowners, but there are still a total of 3.2 million borrowers in negative equity positions, representing $126 billion in underwater first- and second-lien housing debt, Black Knight said in its year-to-year Mortgage Monitor Report for February. As negative equity rates continue to improve on the national level and are now at 6.5%, for homes in the lowest-price tier they are at 16.2%, revealing…

Vacant ‘Zombie’ Foreclosures Down 43%

Posted on October 29, 2015 by Saldutti

RealtyTrac released its Q3 2015 U.S. Zombie Foreclosure and Vacant Property Report, which shows 20,050 residential properties in the foreclosure process – but not yet repossessed by the foreclosing lender – were vacant “zombie” homes as of the end of the third quarter of 2015, down 27% from the previous quarter and down 43% from a year ago. Vacant residential properties in the foreclosure process accounted for 1.3% of all vacant U.S. residential properties, with bank-owned homes (REO) accounting for another 1.9% of all vacant properties as of the end of the third quarter. The report shows a total of…

Underwater Homes Decrease by 20%

Posted on July 06, 2015 by Saldutti

A new analysis from CoreLogic found that 254,000 homes regained equity in the first quarter, meaning there are now 44.9 million mortgaged properties (representing 90% of the total) that are above water as of March 31. Year-over-year equity amongst borrowers increased by $694 billion, according to the company, while the total number of underwater mortgaged residential properties dropped by approximately 1.2 million (19.4%), to 5.1 million — or 10.8% of all U.S. homes — from the same time last year. “With the economy improving and homeowners building equity, albeit slowly, the potential exists for an increase in housing stock available…

Underwater Homeowners Still Drowning in Mortgage Debt

Posted on June 17, 2015 by Saldutti

A decade after U.S. home sales peaked, 15.4% of owners in the first quarter owed more on their mortgages than their properties were worth, according to a report by Zillow Inc. While that’s down from a high of 31.4% in 2012, it’s still alarmingly above the 1 or 2% that marks a healthy market, said Stan Humphries, Zillow’s chief economist.  Worse yet: The pace of healing is losing steam. The blotch stains the economy by restraining the housing recovery and by preventing the job market from becoming even more vigorous. It also will probably exacerbate wealth inequality for years to come…