Fewer Homeowners Under Water on Mortgages
Irvine, CA, April 18, 2014 -- Rising home equity has helped nearly 2 million homeowners get back above water on their mortgages over the last year, according to tracking firm RealtyTrac.
During the first quarter 17% of homeowners saw their debt exceed the home's value by 25% or more. That represents 9.1 million homeowners, but the number decreased from 10.9 million a year ago.
RealtyTrac also said that more than one third of homeowners in foreclosure have equity.