CoreLogic: More foreclosures lead to fewer underwater mortgages

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Despite the first monthly increase in home prices in 7 months, as the Case-Shiller indexes showed on Tuesday, there are still more than. of loans in foreclosure has remained stubbornly high, at.

Homeowners who owe more in mortgage debt than their home is worth are at greater risk of foreclosure, and they are expected to weigh on the housing market until they regain equity.

NEW YORK ( — In a sign that more foreclosures could be on. at least stabilize, fewer mortgage borrowers will find themselves underwater in the coming months. CoreLogic changed its.

CoreLogic reports that 11 million, or 23 percent, of all residential properties with mortgages were in negative equity at the end of the second quarter of 2010, down from 11.2 million and 24 percent from the first quarter of 2010. Foreclosures, rather than meaningful price appreciation, were the primary driver in the change in negative equity.

Nationally, slightly more than million borrowers regained equity last year, leaving just 6.2 percent of mortgages on U.S. homes underwater. At the peak of the foreclosure crisis in 2009, more than 25 percent of all homes were in negative equity, according to CoreLogic.

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EMINENT DOMAIN FOR UNDERWATER MORTGAGES: ALREADY ON THE WAY TO THE. together holding 19 percent of all mortgages, were still underwater,9 and more than 5 million other families have lost their homes to foreclosure.10 With the end of. Far fewer mortgage borrowers deeply underwater’, CNNMONEY (Jan. 9, 2014,

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Bank foreclosures continue to climb. In Nevada, 67 percent of homes with mortgages were underwater in the third quarter, more than any state, CoreLogic said. It also has the highest rate of foreclosure filings, with one in 79 households receiving a notice of default or foreclosure in October, according to RealtyTrac.

 · About 10.8 million, or 22.5 percent, of all homeowners with a mortgage were underwater as of Sept. 30, according to CoreLogic, a data provider. A range of housing experts have long argued that the foreclosure crisis can only be stemmed by a more aggressive program that shrinks the outstanding balances on mortgages.

Realogy soars on the HW 30 equity index “We had $60,000 income, so we weren’t one of the ones who bought a home with creative financing and no-doc(umentation. could include interest rate freezes or reduction, deferred payments or a.. Mortgage Bankers Association adds 11 new members in March SPEED: Fannie Mae will directly approve short sales fannie mae stated they intended to minimize bank involvement and have more direct.

Is Buying a Foreclosure a Good Idea?  · CoreLogic data includes more than 50 million properties with a mortgage, which accounts for more than 95 percent of all mortgages in the U.S. CoreLogic uses public record data as the source of the.