U.S. homeowners underwater on mortgages falls in Q2 -CoreLogic | Bedford Corners Homes

-
Rising home prices drove down the number of U.S. homeowners struggling with underwater mortgages in the second quarter, leaving 14.5 percent of residential properties with a mortgage in negative equity, a report from CoreLogic showed on Tuesday.
The rate was down from 19.7 percent in the first quarter, 22.3 percent a year ago and 26 percent in the fourth quarter of 2009, which was the most since CoreLogic began keeping statistics earlier that year.
Negative equity, another term for underwater mortgage, refers to properties whose value is less than what is owed on the mortgage.
Negative equity rates spiked in the aftermath of the housing crisis, which began in earnest five years ago and set off a multi-year free-fall in prices. But recovery in the sector over the past year has helped improve some homeowners’ standings.
There were 7.1 million underwater homes in the second quarter compared with a downwardly revised 9.6 million in the first three months of 2013, CoreLogic said.
According to the S&P/Case Shiller composite index of 20 metropolitan areas, prices were up 12.1 percent in the 12 months to June.
“Price appreciation obviously had a positive impact on home equity over the first half of 2013, especially in the second quarter,” CoreLogic Chief Executive Anand Nallathambi said in a statement.
About 3.5 million homeowners regained positive equity in the first half of the year, the report said.
Nevada had the highest percentage of properties in negative equity in the second quarter at 36.4 percent. Rounding out the top five were Florida, Arizona, Michigan and Georgia.




Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » U.S. homeowners underwater on mortgages falls in Q2 -CoreLogic | Bedford Corners Homes

Comments

Post a Comment

Popular posts from this blog

Four Regional Banks Discuss Settlement Over Foreclosures | Waccabuc Real Estate

-
Image
U.S. state attorneys general are pressing four banks to accept a legal settlement over botched foreclosures similar to a deal reached with larger competitors this year, according to three people briefed on the matter. U.S. Bancorp (SFBC) , PNC Financial Services Group (PNC) Inc., SunTrust Banks Inc. (STI) and HSBC Holdings Plc (HSBA) have held talks with state and federal officials who investigated claims that loan servicers mishandled foreclosure documents, according to the people, who spoke on condition of anonymity because the talks are private. U.S. Bancorp Said to Join PNC in Talks on Mortgage Settlement Jeff Kowalsky/Bloomberg Mortgage servicers typically handle billing and collections, as well as foreclosures when borrowers fail to pay. Neil Brazil , a spokesman for HSBC’s North America unit, said in an e-mail that the London-based lender has conducted “preliminary discussions with its bank regulators and other ...
Read more

Bedford Corners Real Estate by Robert Paul | 3 Perks of Google+ for Doctors: Spend a Little Time, Make Big Online Marketing Gains

-
Image
For doctors trying to reach their patients online, using Google+ can provide surprising marketing benefits that help them be more “findable” on the web. Consider that 44 percent of all Internet users search online to find information about health professionals, and suddenly the importance for doctors of having a good online presence should be more clear. In this article I’ll discuss three reasons why I think that, if you participate in Google+, the newest social network, you can improve the chances your name will come up when prospective patients search for something you’ve written about. If you’re not a doctor but you do know that many prospective clients use the web as a way to find you and your competitors, this article will also be relevant to you. 1. Rise in the Rankings First, participating in Google+ gives doctors an advantage because content you share on Google+ has an “edge” against other stories. That’s right–Google (the search engine) likes stories that’ve gotten sha...
Read more