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Increase in Prices Saved Millions of Homeowners Across America

Increase in prices saved millions of Homeowners across AmericaHome prices are significantly rising. In just the first six months of 2012, CoreLogic reported that the number of homeowners who have escaped being in an underwater status are about 1.3 million, and about 2 million homeowners will receive equity if the worth of state homes will add up an increase of 5 percent.

Residential Homes that have a mortgage lower than their standing credit decreased to 22.3 percent last June from 23.7 percent as recorded last March, CoreLogic said.

CoreLogic translated that from 12.1 million when 2011 closed, to 11.4 last March, then to 10.8 million last June, the number of homeowners who indebted more than what their homes are worth decreased to a very momentous number.

Mark Fleming, CoreLogic’s Chief Economist, said that the rush of home prices this spring and summer, the stumpy levels of accounts, and the falling REO sale shares are all contributing factors to the blossoming house market and decreasing negative equity.

US States that have the highest percentage of mortgage underwater properties are:

Nevada (59 percent)
• Florida (43 percent)
• Arizona (40 percent)
• Georgia (36 percent)
• Michigan (33 percent)

These 5 states occupy 34.1 percent of $689 billion negative equity in the country.

Most of the states mentioned are those that show low status in the housing market, CoreLogic said. Many homes that are underwater are priced less than $200,000 contrast to homes that are priced above $200,000 that are within the 17% range.
Those lenders that have second loans relating to their homes are really submerged “underwater”. About 4.2 million homes have second loans and that’s about 39% of the identified underwater lenders. This group has an average loan balance of about $300,000 – more than of what their home is worth.

There are underwater lenders that do not have second liens, this occupy about 61% of the bracket. These borrowers have an average balance of $216,000 of which these homes are $51,000 more than the average.

Other Articles to Read:

Defending your Gainesville Home against Foreclosure

Determining if you have a Financial Hardship

Is your Gainesville Short Sale Lender Delegated?

Is your Mortgage Lender and Where you Bank the Same

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.


Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals. Gainesville Short Sale Agents