Thursday, May 24, 2012

Underwater homeowners

  • Nearly 40 percent of homeowners in the Puget Sound area owe are underwater on their mortgage, according to Seattle-based real estate website Zillow. About nine percent of those owe more than double what their home is actually worth.
  • (msnbc.com)
  • The report is surprising since research released in March by CoreLogic estimated the number of underwater homeowners closer to 11 million, or roughly a quarter of all homeowners who have mortgages. The difference in findings may be due to methodology.
  • (Huffington Post)
  • Still, the lost value totals $14 billion. Nearly a third of the 153,321 underwater homes are worth only half of whats owed, Zillow said.
  • (Sun Sentinel)
  • More than half of homeowners with a mortgage in metro Atlanta owe more than the house is worth, a new report says.
  • (Atlanta Journal Constitution)
  • Just over one in five Boston area homeowners - 22 percent - were underwater on their mortgages as of the end of the first quarter in March, Zillow.com reports.
  • (Boston Globe)
  • Nationally, the share of underwater borrowers grew to 31.4 percent from 31.1 percent in the prior quarter. New homeowners, especially those who made small or no down payments, can fall into so-called negative equity when home values fall.
  • (Oregonian)
  • About 15.7 million U.S. homeowners were underwater in the first quarter of 2012, according to Zillow's Negative Equity Report released Thursday. This translates to about one-third, or 31.
  • (DSNews.com)
  • Twenty-two percent of Boston homeowners are underwater — owe more on their mortgages than their homes are worth — according to the Negative Equity Report from Zillow.
  • (WBUR)

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