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negative equity: Underwater mortgages on the rise - 03/04/09 12:09 PM
A couple of months ago I had written a post about the number of homes that are under water or have "negative equity", essentially the home is worth less than what is owed on it.  Well, today, Reuters is reporting that according to First American CoreLogic, nearly 1 in 5 or approximately 8.31 million properties were a part of this epidemic at the end of 2008.  This number is up 9% or about 700,000 homes from the end of September.
The report goes on to say than an additional 2.16 million properties could go underwater if home values fall by another 5%.  Based on the current supply … (3 comments)

negative equity: Are these negative equity numbers right? - 12/27/08 06:05 PM
For the past several weeks there has been a lot of exposure about the "next wave" of foreclosures that will be a result of Alt-A and Option ARM loans resetting.  I was glad to see that 60 Minutes did a feature about this as the volume of loans that will reset and are at risk of foreclosure over the next four years will trump the sub prime tsunami that made land-fall in 2007 and 2008.  This is a problem that is not going to go away and as such, needs to be accounted for when debating how soon the real estate market and broader economy is going … (10 comments)

 

Mark MacKenzie

Phoenix, AZ

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Mark MacKenzie Real Estate Planning

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