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negative equity: 1/3 of CA mortgages exceed home’s value - 03/09/11 03:37 PM
According to the Santa Ana-based property research firm CoreLogic, 31.8 percent of California homeowners with a loan are "under water" or "upside down."
CoreLogic chief economist Mark Fleming says, "Negative equity holds millions of borrowers captive in their homes, unable to move or sell their properties.  Until the high level of negative equity begins to recede, the housing and mortgage finance markets will remain very sluggish."
The fact is that homeowners do have options to sell and extinguish their negative equity. A successful short sale can extinguish the negative equity and allow a homeowner to buy again in as few as … (0 comments)

 
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Nancy Moeller

Anaheim Hills, CA

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