Study Finds 6.4 Million U.S. Homeowners Still Have Underwater Mortgages

Trent Peterman Division President – Central Illinois | NMLS #267192 Diamond Residential Mortgage Mortgage Professional Reviews

6.2 million Underwater Homeowners in Crisis March 15, 2017 Pam Marron Leave a comment The housing crash might seem like old news, but for families left behind by the recovery it remains a defining economic reality, with negative equity preventing moves and limiting choices in life.

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A large number of the 6.4 million underwater homeowners that still exist throughout the U.S. have the three types of loans where no refinance exists. Most of these homeowners are simply trying to stay put in their home seeking a sustainable refinance option to better rates that does not require mortgage delinquency first.

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The study took a look at information such as the percentage of mortgages that have negative equity – meaning the home is ultimately worth less than the total cost of the mortgage, also referred.

Projections are that 13 million homes will have been "foreclosed. deeper financial crisis. study after study has shown that defaults go up when falling prices put mortgage holders "underwater." As.

The value of U.S. have plowed more money into savings and whittled many types of outstanding debt. Still, negative equity still dogs many homeowners. In October, data provider RealtyTrac reported.

11.5 Percent of Properties with Mortgage Are Underwater, Down From Peak of 28.6 Percent; Number of Equity Rich Properties Increases 1.3 Million in 2015 to 12.6 Million; Half of All U.S. Properties.

About 1.75 million homes were for sale nationally at the end of February, according to the National Association of Realtors. That’s down 6.4. U.S. home sales are expected to rise this year,

Which states have the best economic outlook? Mortgage Masters Group There’s a rhythm to the United States economy that makes a "more of the same" outlook a very reasonable one for the next 12 months. The challenge for investors is that we believe this rhythm is already in the price. The market’s near-term outlook for monetary policy is well-aligned with the Fed’s forecasts and our own.

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