Monday, April 6, 2015

Over 1 Million Homeowners Regained Home Equity Last Year

CoreLogic reports that 1.2 million homeowners, whose homes were previously underwater (their mortgages were higher than the value of their homes), gained an equity position in 2014.

All told, 44.5 million of the 49.9 million total of mortgaged homes now have equity.  CoreLogic forecasts that another 1 million will gain equity by the end of this year, after an expected 5% appreciation in 2015.


NOTE: Nearly ½ of the homes that are still underwater have a second mortgage.

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