As Borrowers Regain Equity:
A new industry report shows 69 percent of all homes in foreclosure are underwater, and nearly half—48 percent—are deeply underwater, meaning the borrower owes at least 25 percent more on the mortgage than the home is currently worth. Those numbers may sound pretty big, but RealtyTrac, which conducted the study, says negative equity has been steadily declining. rising #home prices resulting in falling negative equity, which in turn is giving millions of homeowners a lifeline to avoid foreclosure when they encounter a trigger event.” read more
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