The number of U.S. homes considered to have serious negative equity dropped in December 2013, according to the latest U.S. Home Equity & Underwater Report from RealtyTrac.
A total of 9.3 million homes were "deeply underwater" -- homes worth at least 25 percent less than the combined loans for the property -- representing 19 percent of all homes with a mortgage in December.
The figure dropped from the 10.7 million homes deeply underwater in September 2013, and was lower than the 10.9 million properties in January 2013. The December number is also down from the peak of 12.8 million in May 2012.
In December, a total of 239,470 homes in the foreclosure process were considered deeply underwater, representing 48 percent of all properties. That was 60,000 fewer than three months prior.
The report also highlighted the percentage of homes in the foreclosure process with positive equity in December. The number increased to 31 percent, from 24 percent last September.
Read more: http://www.worldpropertychannel.com/north-america-residential-news/us-homes-with-negative-equity-realtytrac-foreclosures-december-2013-7862.php
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A total of 9.3 million homes were "deeply underwater" -- homes worth at least 25 percent less than the combined loans for the property -- representing 19 percent of all homes with a mortgage in December.
The figure dropped from the 10.7 million homes deeply underwater in September 2013, and was lower than the 10.9 million properties in January 2013. The December number is also down from the peak of 12.8 million in May 2012.
In December, a total of 239,470 homes in the foreclosure process were considered deeply underwater, representing 48 percent of all properties. That was 60,000 fewer than three months prior.
The report also highlighted the percentage of homes in the foreclosure process with positive equity in December. The number increased to 31 percent, from 24 percent last September.
Read more: http://www.worldpropertychannel.com/north-america-residential-news/us-homes-with-negative-equity-realtytrac-foreclosures-december-2013-7862.php
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